Investors focused on the Computer and Technology space have likely heard of Pinterest (PINS), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of PINS and the rest of the Computer and Technology group’s stocks.
Pinterest is one of 621 companies in the Computer and Technology group. The Computer and Technology group currently sits at #11 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 system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. PINS is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for PINS’s full-year earnings has moved 129.03% higher. This means that analyst sentiment is stronger and the stock’s earnings outlook is improving.
Based on the most recent data, PINS has returned -3.32% so far this year. At the same time, Computer and Technology stocks have gained an average of 12.63%. This shows that Pinterest is outperforming its peers so far this year.
Looking more specifically, PINS belongs to the Internet – Software industry, a group that includes 112 individual stocks and currently sits at #193 in the Zacks Industry Rank. On average, stocks in this group have lost 11.07% this year, meaning that PINS is performing better in terms of year-to-date returns.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to PINS 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.