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Is Elastic N.V. (ESTC) Outperforming Other Business Services Stocks This Year?

Zacks Equity Research

Investors interested in Business Services stocks should always be looking to find the best-performing companies in the group. Elastic N.V. (ESTC) 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? One simple way to answer this question is to take a look at the year-to-date performance of ESTC and the rest of the Business Services group's stocks.

Elastic N.V. is one of 189 individual stocks in the Business Services sector. Collectively, these companies sit at #4 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. ESTC is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past three months, the Zacks Consensus Estimate for ESTC's full-year earnings has moved 4.83% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

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According to our latest data, ESTC has moved about 9.60% on a year-to-date basis. At the same time, Business Services stocks have gained an average of 6.04%. This means that Elastic N.V. is performing better than its sector in terms of year-to-date returns.

Looking more specifically, ESTC belongs to the Technology Services industry, a group that includes 54 individual stocks and currently sits at #155 in the Zacks Industry Rank. On average, this group has gained an average of 5.60% so far this year, meaning that ESTC is performing better in terms of year-to-date returns.

Going forward, investors interested in Business Services stocks should continue to pay close attention to ESTC as it looks to continue its solid performance.


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