The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Alphabet (GOOGL) one of those stocks right now? By taking a look at the stock’s year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
Alphabet is one of 621 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #10 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. GOOGL is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for GOOGL’s full-year earnings has moved 27.32% higher. This signals that analyst sentiment is improving and the stock’s earnings outlook is more positive.
Based on the latest available data, GOOGL has gained about 35.86% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 12.44% on a year-to-date basis. This means that Alphabet is outperforming the sector as a whole this year.
Looking more specifically, GOOGL belongs to the Internet – Services industry, a group that includes 49 individual stocks and currently sits at #173 in the Zacks Industry Rank. On average, stocks in this group have gained 26.75% this year, meaning that GOOGL is performing better in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track GOOGL. The stock will be looking to continue its solid performance.
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