Yahoo Finance Is Cellebrite DI Ltd. (CLBT) Stock Outpacing Its Business Services Peers This Year?
For those looking to find strong Business Services stocks, it is prudent to search for companies in the group that are outperforming their peers. Cellebrite DI Ltd. (CLBT) 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? A quick glance at the company's year-to-date performance in comparison to the rest of the Business Services sector should help us answer this question.
Cellebrite DI Ltd. is a member of our Business Services group, which includes 315 different companies and currently sits at #7 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Cellebrite DI Ltd. is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for CLBT's full-year earnings has moved 22.1% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, CLBT has returned 27.9% so far this year. In comparison, Business Services companies have returned an average of 9.5%. This shows that Cellebrite DI Ltd. is outperforming its peers so far this year.
Viant Technology (DSP) is another Business Services stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 54.7%.
For Viant Technology, the consensus EPS estimate for the current year has increased 46.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Cellebrite DI Ltd. belongs to the Technology Services industry, which includes 174 individual stocks and currently sits at #81 in the Zacks Industry Rank. On average, this group has gained an average of 16.3% so far this year, meaning that CLBT is performing better in terms of year-to-date returns. Viant Technology is also part of the same industry.
Investors with an interest in Business Services stocks should continue to track Cellebrite DI Ltd. and Viant Technology. These stocks will be looking to continue their solid performance.
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Cellebrite DI Ltd. (CLBT) : Free Stock Analysis Report
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