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 614 companies in the Computer and Technology group. The Computer and Technology group currently sits at #10 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 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. GOOGL is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for GOOGL’s full-year earnings has moved 8.75% higher. This signals that analyst sentiment is improving and the stock’s earnings outlook is more positive.
Based on the most recent data, GOOGL has returned 8.68% so far this year. In comparison, Computer and Technology companies have returned an average of 21.95%. This means that Alphabet is performing better than its sector in terms of year-to-date returns.
Breaking things down more, GOOGL is a member of the Internet – Services industry, which includes 50 individual companies and currently sits at #180 in the Zacks Industry Rank. On average, this group has gained an average of 16.19% so far this year, meaning that GOOGL is slightly underperforming its industry in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should