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Is Square (SQ) Outperforming Other Computer and Technology Stocks This Year?

Zacks Equity Research

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

Square is one of 637 companies in the Computer and Technology group. The Computer and Technology group currently sits at #7 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

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. SQ is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for SQ's full-year earnings has moved 78.57% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

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According to our latest data, SQ has moved about 17.52% on a year-to-date basis. Meanwhile, the Computer and Technology sector has returned an average of 17.46% on a year-to-date basis. This means that Square is performing better than its sector in terms of year-to-date returns.

To break things down more, SQ belongs to the Internet - Software industry, a group that includes 83 individual companies and currently sits at #77 in the Zacks Industry Rank. On average, stocks in this group have gained 30.38% this year, meaning that SQ is slightly underperforming its industry in terms of year-to-date returns.

SQ 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