Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Is BlackBerry (BB) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
BlackBerry is a member of the Computer and Technology sector. This group includes 630 individual stocks and currently holds a Zacks Sector Rank of #5. 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. BB is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for BB's full-year earnings has moved 40% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, BB has returned 3.74% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 2.59% on average. As we can see, BlackBerry is performing better than its sector in the calendar year.
Looking more specifically, BB belongs to the Wireless Non-US industry, a group that includes 18 individual stocks and currently sits at #46 in the Zacks Industry Rank. On average, stocks in this group have lost 1.37% this year, meaning that BB 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 BB as it looks to continue its solid performance.
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