Is Marathon Digital Holdings (MARA) Stock Outpacing Its Business Services Peers This Year?
Investors focused on the Business Services space have likely heard of Marathon Digital Holdings (MARA), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of MARA and the rest of the Business Services group's stocks.
Marathon Digital Holdings is one of 223 companies in the Business Services group. The Business Services group currently sits at #12 within 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 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. MARA is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for MARA's full-year earnings has moved 90.91% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, MARA has gained about 369.35% so far this year. Meanwhile, stocks in the Business Services group have gained about 1.42% on average. This means that Marathon Digital Holdings is performing better than its sector in terms of year-to-date returns.
Looking more specifically, MARA belongs to the Technology Services industry, a group that includes 90 individual stocks and currently sits at #179 in the Zacks Industry Rank. Stocks in this group have gained about 1.17% so far this year, so MARA is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Business Services stocks should continue to pay close attention to MARA as it looks to continue its solid performance.
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