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Is GoPro (GPRO) Outperforming Other Consumer Discretionary Stocks This Year?

Zacks Equity Research

Investors focused on the Consumer Discretionary space have likely heard of GoPro (GPRO), but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.

GoPro is a member of the Consumer Discretionary sector. This group includes 244 individual stocks and currently holds a Zacks Sector Rank of #6. 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. GPRO is currently sporting a Zacks Rank of #1 (Strong Buy).

The Zacks Consensus Estimate for GPRO's full-year earnings has moved 130.77% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

According to our latest data, GPRO has moved about 69.81% on a year-to-date basis. At the same time, Consumer Discretionary stocks have gained an average of 16.75%. This means that GoPro is outperforming the sector as a whole this year.

To break things down more, GPRO belongs to the Audio Video Production industry, a group that includes 7 individual companies and currently sits at #23 in the Zacks Industry Rank. On average, stocks in this group have gained 1.84% this year, meaning that GPRO is performing better in terms of year-to-date returns.

GPRO will likely be looking to continue its solid performance, so investors interested in Consumer Discretionary stocks should continue to pay close attention to the company.


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