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Is Futu Holdings (FUTU) Outperforming Other Business Services Stocks This Year?
The Business Services group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Futu Holdings Limited Sponsored ADR (FUTU - Free Report) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Futu Holdings Limited Sponsored ADR is a member of our Business Services group, which includes 289 different companies and currently sits at #8 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Futu Holdings Limited Sponsored ADR is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for FUTU's full-year earnings has moved 10.2% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, FUTU has moved about 33% on a year-to-date basis. Meanwhile, the Business Services sector has returned an average of -0.5% on a year-to-date basis. As we can see, Futu Holdings Limited Sponsored ADR is performing better than its sector in the calendar year.
Another stock in the Business Services sector, Katapult Holdings, Inc. (KPLT - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 90.7%.
In Katapult Holdings, Inc.'s case, the consensus EPS estimate for the current year increased 11% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Futu Holdings Limited Sponsored ADR belongs to the Technology Services industry, a group that includes 151 individual stocks and currently sits at #71 in the Zacks Industry Rank. On average, this group has lost an average of 27.9% so far this year, meaning that FUTU is performing better in terms of year-to-date returns. Katapult Holdings, Inc. is also part of the same industry.
Investors interested in the Business Services sector may want to keep a close eye on Futu Holdings Limited Sponsored ADR and Katapult Holdings, Inc. as they attempt to continue their solid performance.