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 Alight, Inc. (ALIT) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Alight, Inc. is a member of our Computer and Technology group, which includes 618 different companies and currently sits at #6 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. Alight, Inc. is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ALIT's full-year earnings has moved 7.1% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, ALIT has moved about 7.6% on a year-to-date basis. Meanwhile, stocks in the Computer and Technology group have gained about 6.1% on average. This shows that Alight, Inc. is outperforming its peers so far this year.
Another stock in the Computer and Technology sector, Criteo S.A. (CRTO), has outperformed the sector so far this year. The stock's year-to-date return is 40.3%.
Over the past three months, Criteo S.A.'s consensus EPS estimate for the current year has increased 52.2%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Alight, Inc. belongs to the Internet - Software industry, a group that includes 139 individual stocks and currently sits at #65 in the Zacks Industry Rank. This group has gained an average of 12.4% so far this year, so ALIT is slightly underperforming its industry in this area.
On the other hand, Criteo S.A. belongs to the Internet - Software and Services industry. This 12-stock industry is currently ranked #32. The industry has moved +2.2% year to date.
Investors interested in the Computer and Technology sector may want to keep a close eye on Alight, Inc. and Criteo S.A. as they attempt to continue 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.
