For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Alphabet (GOOG) been one of those stocks this year? A quick glance at the company’s year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
Alphabet is a member of the Computer and Technology sector. This group includes 632 individual stocks and currently holds a Zacks Sector Rank of #7. 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. GOOG is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for GOOG’s full-year earnings has moved 6.39% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, GOOG has returned 8.51% so far this year. At the same time, Computer and Technology stocks have gained an average of 6.11%. As we can see, Alphabet is performing better than its sector in the calendar year.
Looking more specifically, GOOG belongs to the Internet – Services industry, which includes 50 individual stocks and currently sits at #111 in the Zacks Industry Rank. On average, stocks in this group have gained 7.62% this year, meaning that GOOG is performing better in terms of year-to-date returns.
GOOG 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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