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Has Smartsheet (SMAR) Outpaced Other Computer and Technology Stocks This Year?

Zacks Equity Research

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

Smartsheet is one of 630 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #5 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. SMAR is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for SMAR's full-year earnings has moved 4.61% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

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Based on the latest available data, SMAR has gained about 73.85% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 29.41% on average. This shows that Smartsheet is outperforming its peers so far this year.

Looking more specifically, SMAR belongs to the Internet - Software industry, a group that includes 91 individual stocks and currently sits at #144 in the Zacks Industry Rank. On average, this group has gained an average of 17.89% so far this year, meaning that SMAR is performing better in terms of year-to-date returns.

SMAR 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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Zacks Investment Research