Is Bakkt (BKKT) 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 Bakkt Holdings, Inc. (BKKT) 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.
Bakkt Holdings, Inc. is one of 334 individual stocks in the Business Services sector. Collectively, these companies sit at #10 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. Bakkt Holdings, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for BKKT's full-year earnings has moved 34.7% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, BKKT has returned 21.9% so far this year. In comparison, Business Services companies have returned an average of 5.6%. This means that Bakkt Holdings, Inc. is performing better than its sector in terms of year-to-date returns.
Bowman Consulting (BWMN) is another Business Services stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 24.4%.
Over the past three months, Bowman Consulting's consensus EPS estimate for the current year has increased 5.2%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Bakkt Holdings, Inc. belongs to the Technology Services industry, a group that includes 193 individual companies and currently sits at #113 in the Zacks Industry Rank. This group has gained an average of 12.5% so far this year, so BKKT is performing better in this area.
Bowman Consulting, however, belongs to the Business - Services industry. Currently, this 25-stock industry is ranked #57. The industry has moved +20.5% so far this year.
Investors with an interest in Business Services stocks should continue to track Bakkt Holdings, Inc. and Bowman Consulting. These stocks will be looking to continue their solid performance.
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Bakkt Holdings, Inc. (BKKT) : Free Stock Analysis Report
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