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Is Zoom Video Communications (ZM) Stock Outpacing Its Computer and Technology Peers This Year?

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Zacks Equity Research
·2 min read
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Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Has Zoom Video Communications (ZM) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

Zoom Video Communications is one of 631 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #8 in the Zacks Sector Rank. 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. ZM is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for ZM's full-year earnings has moved 13.50% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the most recent data, ZM has returned 27.77% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 10.21% on a year-to-date basis. This means that Zoom Video Communications is performing better than its sector in terms of year-to-date returns.

Looking more specifically, ZM belongs to the Internet - Software industry, which includes 104 individual stocks and currently sits at #186 in the Zacks Industry Rank. On average, this group has gained an average of 13.78% so far this year, meaning that ZM is performing better in terms of year-to-date returns.

ZM will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company.


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