Is SailPoint Technologies Holdings (SAIL) Outperforming Other Business Services Stocks This Year?
Investors focused on the Business Services space have likely heard of SailPoint Technologies Holdings (SAIL), 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.
SailPoint Technologies Holdings is one of 213 companies in the Business Services group. The Business Services group currently sits at #7 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. SAIL is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for SAIL's full-year earnings has moved 4.35% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, SAIL has moved about 0.21% on a year-to-date basis. Meanwhile, the Business Services sector has returned an average of -1.47% on a year-to-date basis. This shows that SailPoint Technologies Holdings is outperforming its peers so far this year.
Looking more specifically, SAIL belongs to the Technology Services industry, which includes 82 individual stocks and currently sits at #177 in the Zacks Industry Rank. On average, this group has gained an average of 0.83% so far this year, meaning that SAIL is slightly underperforming its industry in terms of year-to-date returns.
SAIL will likely be looking to continue its solid performance, so investors interested in Business Services stocks should continue to pay close attention to the company.
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