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Is PagerDuty (PD) Stock Outpacing Its Computer and Technology Peers This Year?

Investors focused on the Computer and Technology space have likely heard of PagerDuty (PD), 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.

PagerDuty is a member of our Computer and Technology group, which includes 606 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. PD is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for PD's full-year earnings has moved 3.76% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Based on the latest available data, PD has gained about 19.80% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 16.26% on a year-to-date basis. This shows that PagerDuty is outperforming its peers so far this year.

To break things down more, PD belongs to the Internet - Software industry, a group that includes 91 individual companies and currently sits at #108 in the Zacks Industry Rank. On average, this group has gained an average of 52.51% so far this year, meaning that PD is slightly underperforming its industry in terms of year-to-date returns.

PD will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company.


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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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