Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Has BlackBerry (BB) 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.
BlackBerry is one of 655 companies in the Computer and Technology group. The Computer and Technology group currently sits at #6 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. BlackBerry is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for BB’s full-year earnings has moved 7.4% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, BB has gained about 11% so far this year. Meanwhile, stocks in the Computer and Technology group have lost about 35.4% on average. This shows that BlackBerry is outperforming its peers so far this year.
Another Computer and Technology stock, which has outperformed the sector so far this year, is Baidu Inc. (BIDU). The stock has returned 15.2% year-to-date.
For Baidu Inc. the consensus EPS estimate for the current year has increased 4.3% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, BlackBerry belongs to the Computer – Software industry, a group that includes 38 individual companies and currently sits at #61 in the Zacks Industry Rank. This group has lost an average of 30.5% so far this year, so BB is performing better in this area.
On the other hand, Baidu Inc. belongs to the Internet – Services industry. This 45-stock industry is currently ranked #148. The industry has moved -40.8% year to date.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to BlackBerry and Baidu Inc. as they could maintain their solid performance.
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