Is Eventbrite (EB) Stock Outpacing Its Computer and Technology Peers This Year?

·2 min read

Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Is Eventbrite (EB) one of those stocks right now? 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.

Eventbrite is a member of our Computer and Technology group, which includes 647 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Eventbrite is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for EB's full-year earnings has moved 2.7% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Our latest available data shows that EB has returned about 39.3% since the start of the calendar year. At the same time, Computer and Technology stocks have gained an average of 12.1%. This shows that Eventbrite is outperforming its peers so far this year.

Another Computer and Technology stock, which has outperformed the sector so far this year, is Baidu Inc. (BIDU). The stock has returned 19.5% year-to-date.

For Baidu Inc. the consensus EPS estimate for the current year has increased 15.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Breaking things down more, Eventbrite is a member of the Internet - Services industry, which includes 44 individual companies and currently sits at #72 in the Zacks Industry Rank. On average, this group has gained an average of 7% so far this year, meaning that EB is performing better in terms of year-to-date returns. Baidu Inc. is also part of the same industry.

Eventbrite and Baidu Inc. could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.

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