For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Has PagerDuty (PD) been one of those stocks this year? Let’s take a closer look at the stock’s year-to-date performance to find out.
PagerDuty is one of 606 companies in the Computer and Technology group. The Computer and Technology group currently sits at #9 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 emphasizes earnings estimates and estimate revisions to find stocks with improving book profits 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. PD is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for PD’s full-year earnings has moved 3.76% higher. This signals that analyst sentiment is improving and the stock’s earnings outlook is more positive.
Based on the latest available data, PD has gained about 28.60% so far this year. In comparison, Computer and Technology companies have returned an average of 17.08%. This means that PagerDuty is outperforming the sector as a whole this year.
Breaking things down more, PD is a member of the Internet – Software industry, which includes 91 individual companies and currently sits at #46 in the Zacks Industry Rank. On average, this group has gained an average of 60.34% so far this year, meaning that PD is slightly underperforming its industry in terms of year-to-date returns.
PD 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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