Are Business Services Stocks Lagging Accolade (ACCD) 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 Accolade (ACCD) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Accolade is a member of our Business Services group, which includes 330 different companies and currently sits at #12 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 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. Accolade is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ACCD's full-year earnings has moved 16.2% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, ACCD has returned 73.2% so far this year. In comparison, Business Services companies have returned an average of 12.6%. This means that Accolade is performing better than its sector in terms of year-to-date returns.
Another Business Services stock, which has outperformed the sector so far this year, is Marvell Technology (MRVL). The stock has returned 72.5% year-to-date.
The consensus estimate for Marvell Technology's current year EPS has increased 0.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Accolade belongs to the Technology Services industry, which includes 187 individual stocks and currently sits at #117 in the Zacks Industry Rank. On average, this group has gained an average of 21.7% so far this year, meaning that ACCD is performing better in terms of year-to-date returns. Marvell Technology is also part of the same industry.
Accolade and Marvell Technology could continue their solid performance, so investors interested in Business Services stocks should continue to pay close attention to these stocks.
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Accolade, Inc. (ACCD) : Free Stock Analysis Report
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