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 a member of our Computer and MPA asbestos removal Technology group, which includes 612 different companies and currently sits at #4 in 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 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 #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ETSY’s full-year earnings has moved 41.04% higher. This signals that analyst sentiment is improving and the stock’s earnings outlook is more positive.
Based on the most recent data, ETSY has returned 80.05% so far this year. In comparison, Computer and Technology companies have returned an average of 6.20%. This means that Etsy is outperforming the sector as a whole this year.
Looking more specifically, ETSY belongs to the Internet – Services industry, a group that includes 48 individual stocks and currently sits at #53 in the Zacks Industry Rank. Stocks in this group have gained about 8.37% so far this year, so ETSY is performing better this group in terms of year-to-date returns.
ETSY 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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