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Investors focused on the Computer and Technology space have likely heard of Sprout Social (SPT), but is the stock performing well in comparison to the rest of its sector peers? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
Sprout Social is one of 613 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 considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. SPT is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for SPT's full-year earnings has moved 4.15% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, SPT has gained about 71.65% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 4.84% on average. As we can see, Sprout Social is performing better than its sector in the calendar year.
Looking more specifically, SPT belongs to the Internet - Services industry, which includes 49 individual stocks and currently sits at #27 in the Zacks Industry Rank. On average, stocks in this group have gained 8.84% this year, meaning that SPT 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 SPT as it attempts to continue its solid performance.
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