Is StoneCo (STNE) Outperforming Other Computer and Technology Stocks This Year?
Investors focused on the Computer and Technology space have likely heard of StoneCo (STNE), but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
StoneCo is a member of the Computer and Technology sector. This group includes 630 individual stocks and currently holds a Zacks Sector Rank of #3. 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. STNE is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for STNE's full-year earnings has moved 0.31% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, STNE has gained about 9.63% so far this year. At the same time, Computer and Technology stocks have gained an average of 9.29%. This shows that StoneCo is outperforming its peers so far this year.
Breaking things down more, STNE is a member of the Internet - Software industry, which includes 91 individual companies and currently sits at #97 in the Zacks Industry Rank. This group has gained an average of 17.48% so far this year, so STNE is slightly underperforming its industry in this area.
Investors in the Computer and Technology sector will want to keep a close eye on STNE as it attempts to continue its solid performance.
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