Has Pinterest (PINS) Outpaced Other Computer and Technology Stocks This Year?
Investors focused on the Computer and Technology space have likely heard of Pinterest (PINS), but is the stock performing well in comparison to the rest of its sector peers? 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.
Pinterest is a member of the Computer and Technology sector. This group includes 631 individual stocks and currently holds a Zacks Sector Rank of #8. 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. PINS is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for PINS's full-year earnings has moved 109.68% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, PINS has returned 23.10% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 10.21% on average. This means that Pinterest is outperforming the sector as a whole this year.
Looking more specifically, PINS belongs to the Internet - Software industry, a group that includes 104 individual stocks and currently sits at #186 in the Zacks Industry Rank. Stocks in this group have gained about 13.78% so far this year, so PINS is performing better this group in terms of year-to-date returns.
PINS will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company.
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