Investors focused on the Computer and Technology space have likely heard of Etsy (ETSY), but is the stock performing well in comparison to the rest of its sector peers? 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.
Etsy is one of 658 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #4 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 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. ETSY is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ETSY's full-year earnings has moved 44.34% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, ETSY has returned 180.83% so far this year. In comparison, Computer and Technology companies have returned an average of -0.26%. As we can see, Etsy is performing better than its sector in the calendar year.
To break things down more, ETSY belongs to the Internet - Services industry, a group that includes 52 individual companies and currently sits at #80 in the Zacks Industry Rank. Stocks in this group have lost about 20.61% so far this year, so ETSY is performing better this group in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on ETSY as it attempts 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.