Investors focused on the Computer and Technology space have likely heard of Etsy (ETSY), but is the stock performing well in comparison to the rest of its sector peers? 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.
Etsy is one of 621 companies in the Computer and Technology group. The Computer and Technology group currently sits at #9 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. ETSY is currently sporting a Zacks Rank of #4 (Sell).
Within the past quarter, the Zacks Consensus Estimate for ETSY’s full-year earnings has moved 41.04% higher. This means that analyst sentiment is stronger and the stock’s earnings outlook is improving.
Our latest available data shows that ETSY has returned about 17.36% since the start of the calendar year. Meanwhile, the Computer and Technology sector has returned an average of 13.64% on a year-to-date basis. This shows that Etsy is outperforming its peers so far this year.
Breaking things down more, ETSY is a member of the Internet – Services industry, which includes 49 individual companies and currently sits at #188 in the Zacks Industry Rank. This group has gained an average of 26.57% so far this year, so ETSY is slightly underperforming its industry in this area.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to ETSY as it looks to continue its solid performance.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.