Markets

Has ChannelAdvisor (ECOM) Outpaced Other Computer and Technology Stocks This Year?

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. Has ChannelAdvisor (ECOM) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

ChannelAdvisor is a member of our Computer and Technology group, which includes 602 different companies and currently sits at #8 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 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. ECOM is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for ECOM's full-year earnings has moved 96.30% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the latest available data, ECOM has gained about 55.64% so far this year. In comparison, Computer and Technology companies have returned an average of 22.06%. As we can see, ChannelAdvisor is performing better than its sector in the calendar year.

Looking more specifically, ECOM belongs to the Internet - Software and Services industry, a group that includes 17 individual stocks and currently sits at #231 in the Zacks Industry Rank. Stocks in this group have gained about 28.82% so far this year, so ECOM is performing better this group in terms of year-to-date returns.

Investors with an interest in Computer and Technology stocks should continue to track ECOM. The stock will be looking to continue its solid performance.


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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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