Investors focused on the Computer and Technology space have likely heard of salesforce.com (CRM), but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
salesforce.com is a member of the Computer and Technology sector. This group includes 651 individual stocks and currently holds a Zacks Sector Rank of #3. 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. CRM is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for CRM's full-year earnings has moved 8.22% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, CRM has returned 0.72% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 0.62% on average. This means that salesforce.com is performing better than its sector in terms of year-to-date returns.
To break things down more, CRM belongs to the Computer - Software industry, a group that includes 49 individual companies and currently sits at #80 in the Zacks Industry Rank. Stocks in this group have gained about 0.59% so far this year, so CRM is performing better this group in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track CRM. The stock will be looking to continue its solid performance.