Are Business Services Stocks Lagging Cellebrite DI Ltd. (CLBT) This Year?
Investors interested in Business Services stocks should always be looking to find the best-performing companies in the group. Has Cellebrite DI Ltd. (CLBT) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Cellebrite DI Ltd. is a member of the Business Services sector. This group includes 318 individual stocks and currently holds a Zacks Sector Rank of #4. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. Cellebrite DI Ltd. is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for CLBT's full-year earnings has moved 30% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that CLBT has returned about 93.8% since the start of the calendar year. At the same time, Business Services stocks have gained an average of 16.9%. As we can see, Cellebrite DI Ltd. is performing better than its sector in the calendar year.
Core & Main (CNM) is another Business Services stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 88.8%.
For Core & Main, the consensus EPS estimate for the current year has increased 5.5% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Cellebrite DI Ltd. belongs to the Technology Services industry, a group that includes 176 individual stocks and currently sits at #87 in the Zacks Industry Rank. On average, this group has gained an average of 40.7% so far this year, meaning that CLBT is performing better in terms of year-to-date returns.
Core & Main, however, belongs to the Waste Removal Services industry. Currently, this 16-stock industry is ranked #83. The industry has moved +12.8% so far this year.
Cellebrite DI Ltd. and Core & Main 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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