Are Computer and Technology Stocks Lagging Freshwork (FRSH) This Year?
The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Freshworks Inc. (FRSH) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Freshworks Inc. is one of 633 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #8 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Freshworks Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for FRSH's full-year earnings has moved 12.4% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that FRSH has returned about 42.4% since the start of the calendar year. In comparison, Computer and Technology companies have returned an average of 38.7%. This shows that Freshworks Inc. is outperforming its peers so far this year.
Another Computer and Technology stock, which has outperformed the sector so far this year, is ACM Research, Inc. (ACMR). The stock has returned 128.2% year-to-date.
For ACM Research, Inc. the consensus EPS estimate for the current year has increased 41.8% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Freshworks Inc. belongs to the Internet - Software industry, which includes 148 individual stocks and currently sits at #97 in the Zacks Industry Rank. On average, this group has gained an average of 50.4% so far this year, meaning that FRSH is slightly underperforming its industry in terms of year-to-date returns.
In contrast, ACM Research, Inc. falls under the Semiconductor Equipment - Material Services industry. Currently, this industry has 1 stocks and is ranked #1. Since the beginning of the year, the industry has moved +55.9%.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to Freshworks Inc. and ACM Research, Inc. as they could maintain their solid performance.
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