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Is Zoom Video Communications (ZM) Outperforming Other Computer and Technology Stocks This Year?
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Investors focused on the Computer and Technology space have likely heard of Zoom Video Communications (ZM - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
Zoom Video Communications is one of 616 companies in the Computer and Technology group. The Computer and Technology group currently sits at #3 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. ZM is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for ZM's full-year earnings has moved 118.75% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that ZM has returned about 99.76% since the start of the calendar year. At the same time, Computer and Technology stocks have lost an average of 9.34%. As we can see, Zoom Video Communications is performing better than its sector in the calendar year.
To break things down more, ZM belongs to the Internet - Software industry, a group that includes 90 individual companies and currently sits at #73 in the Zacks Industry Rank. On average, stocks in this group have lost 3.98% this year, meaning that ZM is performing better in terms of year-to-date returns.
ZM will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company.
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Is Zoom Video Communications (ZM) Outperforming Other Computer and Technology Stocks This Year?
Investors focused on the Computer and Technology space have likely heard of Zoom Video Communications (ZM - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
Zoom Video Communications is one of 616 companies in the Computer and Technology group. The Computer and Technology group currently sits at #3 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. ZM is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for ZM's full-year earnings has moved 118.75% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that ZM has returned about 99.76% since the start of the calendar year. At the same time, Computer and Technology stocks have lost an average of 9.34%. As we can see, Zoom Video Communications is performing better than its sector in the calendar year.
To break things down more, ZM belongs to the Internet - Software industry, a group that includes 90 individual companies and currently sits at #73 in the Zacks Industry Rank. On average, stocks in this group have lost 3.98% this year, meaning that ZM is performing better in terms of year-to-date returns.
ZM will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company.