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? One simple way to answer this question is to take a look at the year-to-date performance of BB and the rest of the Computer and Technology group’s stocks.
BlackBerry is a member of our Computer and Technology group, which includes 615 different companies and currently sits at #6 in 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 proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. BB is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for BB’s full-year earnings has moved 1,300% 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 9.97% since the start of the calendar year. Meanwhile, stocks in the Computer and Technology group have gained about 40.70% on average. This means that BlackBerry is performing better than its sector in terms of year-to-date returns.
Looking more specifically, BB belongs to the Wireless Non-US industry, a group that includes 18 individual stocks and currently sits at #111 in the Zacks Industry Rank. On average, stocks in this group have lost 18.07% this year, meaning that BB is performing better 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.