Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Has Smartsheet (SMAR) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Smartsheet is a member of the Computer and Technology sector. This group includes 629 individual stocks and currently holds a Zacks Sector Rank of #5. 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 proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. SMAR is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for SMAR's full-year earnings has moved 2.43% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, SMAR has gained about 79.12% so far this year. At the same time, Computer and Technology stocks have gained an average of 29.33%. This means that Smartsheet is outperforming the sector as a whole this year.
Breaking things down more, SMAR is a member of the Internet - Software industry, which includes 91 individual companies and currently sits at #101 in the Zacks Industry Rank. On average, this group has gained an average of 18.44% so far this year, meaning that SMAR is performing better in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track SMAR. The stock will be looking to continue its solid performance.
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