Is Crexendo (CXDO) Outperforming Other Computer and Technology Stocks This Year?
Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Has Crexendo (CXDO) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
Crexendo is a member of our Computer and Technology group, which includes 623 different companies and currently sits at #5 in the Zacks Sector Rank. 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 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. Crexendo is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for CXDO's full-year earnings has moved 160% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, CXDO has moved about 76.3% on a year-to-date basis. In comparison, Computer and Technology companies have returned an average of 50%. This shows that Crexendo is outperforming its peers so far this year.
IonQ, Inc. (IONQ) is another Computer and Technology stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 327.8%.
Over the past three months, IonQ, Inc.'s consensus EPS estimate for the current year has increased 59.3%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Crexendo belongs to the Internet - Services industry, a group that includes 40 individual stocks and currently sits at #54 in the Zacks Industry Rank. Stocks in this group have gained about 51.3% so far this year, so CXDO is performing better this group in terms of year-to-date returns.
In contrast, IonQ, Inc. falls under the Computer - Integrated Systems industry. Currently, this industry has 10 stocks and is ranked #93. Since the beginning of the year, the industry has moved +16.4%.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to Crexendo and IonQ, Inc. as they could maintain their solid performance.
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