Investors focused on the Computer and Technology space have likely heard of MeetMe (MEET), but is the stock performing well in comparison to the rest of its sector peers? 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.
MeetMe is one of 660 companies in the Computer and Technology group. The Computer and Technology group currently sits at #4 within 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. MEET is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for MEET's full-year earnings has moved 5.26% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, MEET has returned 44.33% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 4.11% on average. This shows that MeetMe is outperforming its peers so far this year.
To break things down more, MEET belongs to the Internet - Software industry, a group that includes 89 individual companies and currently sits at #35 in the Zacks Industry Rank. On average, stocks in this group have gained 11.69% this year, meaning that MEET is performing better in terms of year-to-date returns.
MEET 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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