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Is Alphabet (GOOGL) Stock Outpacing Its Computer and Technology Peers This Year?

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·2 min read
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The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Alphabet (GOOGL) 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 one of 620 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #10 in 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 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 #1 (Strong Buy).

Over the past 90 days, the Zacks Consensus Estimate for GOOGL's full-year earnings has moved 27.32% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Based on the most recent data, GOOGL has returned 30% so far this year. At the same time, Computer and Technology stocks have gained an average of 9.03%. This shows that Alphabet is outperforming its peers so far this year.

To break things down more, GOOGL belongs to the Internet - Services industry, a group that includes 49 individual companies and currently sits at #167 in the Zacks Industry Rank. On average, stocks in this group have gained 22.02% this year, meaning that GOOGL is performing better in terms of year-to-date returns.

Investors with an interest in Computer and Technology stocks should continue to track GOOGL. The stock will be looking to continue its solid performance.


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