Is AvePoint (AVPT) Stock Outpacing Its Business Services Peers This Year?
The Business Services group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is AvePoint, Inc. (AVPT) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Business Services sector should help us answer this question.
AvePoint, Inc. is one of 335 individual stocks in the Business Services sector. Collectively, these companies sit at #6 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. AvePoint, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for AVPT's full-year earnings has moved 12.1% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, AVPT has returned 2.9% so far this year. In comparison, Business Services companies have returned an average of 2.6%. This means that AvePoint, Inc. is outperforming the sector as a whole this year.
One other Business Services stock that has outperformed the sector so far this year is Concrete Pumping (BBCP). The stock is up 18.3% year-to-date.
In Concrete Pumping's case, the consensus EPS estimate for the current year increased 15.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, AvePoint, Inc. belongs to the Technology Services industry, which includes 195 individual stocks and currently sits at #152 in the Zacks Industry Rank. On average, this group has gained an average of 1.9% so far this year, meaning that AVPT is performing better in terms of year-to-date returns.
On the other hand, Concrete Pumping belongs to the Waste Removal Services industry. This 15-stock industry is currently ranked #193. The industry has moved +7.2% year to date.
Going forward, investors interested in Business Services stocks should continue to pay close attention to AvePoint, Inc. and Concrete Pumping as they could maintain their solid performance.
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AvePoint, Inc. (AVPT) : Free Stock Analysis Report
CONCRETE PUMPING HOLDINGS, INC. (BBCP) : Free Stock Analysis Report
