For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Etsy (ETSY) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of ETSY and the rest of the Computer and Technology group’s stocks.
Etsy is one of 613 companies in the Computer and Technology group. The Computer and Technology group currently sits at #3 within 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 model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. ETSY is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ETSY’s full-year earnings has moved 16.02% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, ETSY has moved about 81.22% on a year-to-date basis. Meanwhile, the Computer and Technology sector has returned an average of 1.80% on a year-to-date basis. This means that Etsy is performing better than its sector in terms of year-to-date returns.
To break things down more, ETSY belongs to the Internet – Services industry, a group that includes 49 individual companies and currently sits at #29 in the Zacks Industry Rank. This group has gained an average of 5.40% so far this year, so ETSY is performing better in this area.
ETSY 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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