Investors focused on the Computer and Technology space have likely heard of Smartsheet (SMAR), 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 SMAR and the rest of the Computer and Technology group's stocks.
Smartsheet is one of 632 companies in the Computer and Technology group. The Computer and Technology group currently sits at #6 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. SMAR is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for SMAR's full-year earnings has moved 4.91% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, SMAR has returned 56.68% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 22.82% on average. This shows that Smartsheet is outperforming its peers so far this year.
Breaking things down more, SMAR is a member of the Internet - Software industry, which includes 91 individual companies and currently sits at #76 in the Zacks Industry Rank. On average, stocks in this group have gained 14.86% this year, meaning that SMAR is performing better in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on SMAR as it attempts to continue its solid performance.
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