The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Meta Platforms (META) been one of those stocks this year? 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.
Meta Platforms is a member of our Computer and Technology group, which includes 641 different companies and currently sits at #9 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 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. Meta Platforms is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for META's full-year earnings has moved 27.5% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, META has gained about 104.1% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 27.1% on a year-to-date basis. This means that Meta Platforms is outperforming the sector as a whole this year.
One other Computer and Technology stock that has outperformed the sector so far this year is MicroStrategy (MSTR). The stock is up 103.6% year-to-date.
Over the past three months, MicroStrategy's consensus EPS estimate for the current year has increased 1372.4%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Meta Platforms belongs to the Internet - Software industry, which includes 146 individual stocks and currently sits at #121 in the Zacks Industry Rank. On average, this group has gained an average of 31.4% so far this year, meaning that META is performing better in terms of year-to-date returns.
In contrast, MicroStrategy falls under the Computer - Software industry. Currently, this industry has 39 stocks and is ranked #101. Since the beginning of the year, the industry has moved +30.3%.
Meta Platforms and MicroStrategy could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.
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