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Is Workday (WDAY) Stock Outpacing Its Computer and Technology Peers This Year?
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Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Workday (WDAY - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of WDAY and the rest of the Computer and Technology group's stocks.
Workday is one of 639 companies in the Computer and Technology group. The Computer and Technology group currently sits at #5 within 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 proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. WDAY is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for WDAY's full-year earnings has moved 12.47% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, WDAY has moved about 34.81% on a year-to-date basis. Meanwhile, stocks in the Computer and Technology group have gained about 21.39% on average. This means that Workday is performing better than its sector in terms of year-to-date returns.
To break things down more, WDAY belongs to the Internet - Software industry, a group that includes 87 individual companies and currently sits at #72 in the Zacks Industry Rank. Stocks in this group have gained about 34.37% so far this year, so WDAY is performing better this group in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on WDAY as it attempts to continue its solid performance.
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Is Workday (WDAY) Stock Outpacing Its Computer and Technology Peers This Year?
Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Workday (WDAY - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of WDAY and the rest of the Computer and Technology group's stocks.
Workday is one of 639 companies in the Computer and Technology group. The Computer and Technology group currently sits at #5 within 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 proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. WDAY is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for WDAY's full-year earnings has moved 12.47% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, WDAY has moved about 34.81% on a year-to-date basis. Meanwhile, stocks in the Computer and Technology group have gained about 21.39% on average. This means that Workday is performing better than its sector in terms of year-to-date returns.
To break things down more, WDAY belongs to the Internet - Software industry, a group that includes 87 individual companies and currently sits at #72 in the Zacks Industry Rank. Stocks in this group have gained about 34.37% so far this year, so WDAY is performing better this group in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on WDAY as it attempts to continue its solid performance.