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Is Square (SQ) Outperforming Other Computer and Technology Stocks This Year?

Zacks Equity Research

Investors focused on the Computer and Technology space have likely heard of Square (SQ), 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.

Square is a member of our Computer and Technology group, which includes 641 different companies and currently sits at #5 in the Zacks Sector Rank. 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 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. SQ is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for SQ's full-year earnings has moved 79.59% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

According to our latest data, SQ has moved about 33% on a year-to-date basis. At the same time, Computer and Technology stocks have gained an average of 19.94%. This means that Square is performing better than its sector in terms of year-to-date returns.

Looking more specifically, SQ belongs to the Internet - Software industry, a group that includes 84 individual stocks and currently sits at #49 in the Zacks Industry Rank. This group has gained an average of 27.48% so far this year, so SQ is performing better in this area.

Investors with an interest in Computer and Technology stocks should continue to track SQ. The stock will be looking to continue its solid performance.


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