Investors focused on the Computer and Technology space have likely heard of BlackBerry (BB), 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.
BlackBerry is a member of the Computer and Technology sector. This group includes 632 individual stocks and currently holds a Zacks Sector Rank of #9. 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 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. BB is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for BB’s full-year earnings has moved 400% higher. This means that analyst sentiment is stronger and the stock’s earnings outlook is improving.
Our latest available data shows that BB has returned about 12.22% since the start of the calendar year. Meanwhile, the Computer and Technology sector has returned an average of 1.29% on a year-to-date basis. This means that BlackBerry is outperforming the sector as a whole this year.
To break things down more, BB belongs to the Wireless Non-US industry, a group that includes 18 individual companies and currently sits at #91 in the Zacks Industry Rank. Stocks in this group have gained about 0.78% so far this year, so BB is performing better this group in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on BB as it attempts to continue its solid performance.