Are Business Services Stocks Lagging Accolade (ACCD) This Year?
For those looking to find strong Business Services stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Accolade (ACCD) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Business Services peers, we might be able to answer that question.
Accolade is a member of the Business Services sector. This group includes 313 individual stocks and currently holds a Zacks Sector Rank of #5. 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 proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Accolade is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ACCD's full-year earnings has moved 11.1% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, ACCD has gained about 8.1% so far this year. Meanwhile, stocks in the Business Services group have gained about 3% on average. This shows that Accolade is outperforming its peers so far this year.
Palantir Technologies Inc. (PLTR) is another Business Services stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 27.4%.
For Palantir Technologies Inc. the consensus EPS estimate for the current year has increased 4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Accolade belongs to the Technology Services industry, a group that includes 174 individual companies and currently sits at #94 in the Zacks Industry Rank. Palantir Technologies Inc. is also part of the same industry.
Accolade and Palantir Technologies Inc. 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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