Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Blend Labs (BLND) 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? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
Blend Labs is one of 616 companies in the Computer and Technology group. The Computer and Technology group currently sits at #8 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 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. Blend Labs is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for BLND's full-year earnings has moved 29.9% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that BLND has returned about 52.9% since the start of the calendar year. Meanwhile, stocks in the Computer and Technology group have gained about 24% on average. As we can see, Blend Labs is performing better than its sector in the calendar year.
Another Computer and Technology stock, which has outperformed the sector so far this year, is OneSpan (OSPN). The stock has returned 50.7% year-to-date.
In OneSpan's case, the consensus EPS estimate for the current year increased 5.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Blend Labs belongs to the Internet - Software industry, which includes 139 individual stocks and currently sits at #80 in the Zacks Industry Rank. This group has gained an average of 21.8% so far this year, so BLND is performing better in this area. OneSpan is also part of the same industry.
Investors interested in the Computer and Technology sector may want to keep a close eye on Blend Labs and OneSpan as they attempt to continue their solid performance.
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