The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. TechTarget (TTGT) 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? One simple way to answer this question is to take a look at the year-to-date performance of TTGT and the rest of the Computer and Technology group's stocks.
TechTarget is a member of the Computer and Technology sector. This group includes 625 individual stocks and currently holds a Zacks Sector Rank of #2. 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 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. TTGT is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for TTGT's full-year earnings has moved 2.56% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, TTGT has moved about 73.85% on a year-to-date basis. Meanwhile, stocks in the Computer and Technology group have gained about 12.81% on average. This shows that TechTarget is outperforming its peers so far this year.
To break things down more, TTGT belongs to the Internet - Content industry, a group that includes 21 individual companies and currently sits at #190 in the Zacks Industry Rank. This group has lost an average of 10.06% so far this year, so TTGT is performing better in this area.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to TTGT as it looks to continue its solid performance.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.