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. Is Eventbrite (EB) one of those stocks right now? 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.
Eventbrite is one of 646 companies in the Computer and Technology group. The Computer and Technology group currently sits at #7 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Eventbrite is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for EB's full-year earnings has moved 2.7% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, EB has moved about 42.8% on a year-to-date basis. Meanwhile, the Computer and Technology sector has returned an average of 19% on a year-to-date basis. This shows that Eventbrite is outperforming its peers so far this year.
Baidu Inc. (BIDU) is another Computer and Technology stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 34.5%.
Over the past three months, Baidu Inc.'s consensus EPS estimate for the current year has increased 15.8%. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Eventbrite belongs to the Internet - Services industry, a group that includes 44 individual companies and currently sits at #76 in the Zacks Industry Rank. Stocks in this group have gained about 14.9% so far this year, so EB is performing better this group in terms of year-to-date returns. Baidu Inc. is also part of the same industry.
Investors interested in the Computer and Technology sector may want to keep a close eye on Eventbrite and Baidu Inc. as they attempt to continue their solid performance.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>Eventbrite, Inc. (EB) : Free Stock Analysis Report
Baidu, Inc. (BIDU) : Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
