Is Airbnb (ABNB) Outperforming Other Computer and Technology Stocks This Year?

The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Airbnb, Inc. (ABNB) 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? 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.

Airbnb, Inc. is one of 618 companies in the Computer and Technology group. The Computer and Technology group currently sits at #5 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

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. Airbnb, Inc. is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for ABNB's full-year earnings has moved 3.8% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the most recent data, ABNB has returned 14.3% so far this year. At the same time, Computer and Technology stocks have gained an average of 9.4%. This means that Airbnb, Inc. is performing better than its sector in terms of year-to-date returns.

Another Computer and Technology stock, which has outperformed the sector so far this year, is Backblaze, Inc. (BLZE). The stock has returned 19.6% year-to-date.

For Backblaze, Inc. the consensus EPS estimate for the current year has increased 12% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Airbnb, Inc. belongs to the Internet - Content industry, a group that includes 16 individual stocks and currently sits at #195 in the Zacks Industry Rank. This group has gained an average of 7.9% so far this year, so ABNB is performing better in this area.

On the other hand, Backblaze, Inc. belongs to the Internet - Software industry. This 139-stock industry is currently ranked #47. The industry has moved +15.2% year to date.

Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to Airbnb, Inc. and Backblaze, Inc. as they could maintain their 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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