Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Has Alphabet (GOOGL – Free Report) been one of those stocks this year? Let’s take a closer look at the stock’s year-to-date performance to find out.
Alphabet is a member of our Computer and Technology group, which includes 632 different companies and currently sits at #8 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 is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader 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 6.57% higher. This signals that analyst sentiment is improving and the stock’s earnings outlook is more positive.
According to our latest data, GOOGL has moved about 7.27% on a year-to-date basis. In comparison, Computer and Technology companies have returned an average of 4.41%. 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 #122 in the Zacks Industry Rank. This group has gained an average of 6.45% so far this year, so GOOGL is performing better in this area.
Investors with an interest in Computer and Technology stocks should continue to track GOOGL. The stock will be looking to continue its solid performance.