The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Datadog (DDOG) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of DDOG and the rest of the Computer and Technology group’s stocks.
Datadog is one of 611 companies in the Computer and Technology group. The Computer and Technology group currently sits at #8 within 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 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. DDOG is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for DDOG’s full-year earnings has moved 86.67% higher. This signals that analyst sentiment is improving and the stock’s earnings outlook is more positive.
Our latest available data shows that DDOG has returned about 137.16% since the start of the calendar year. Meanwhile, stocks in the Texture Spray Machine Computer and Technology group have gained about 10.81% on average. This shows that Datadog is outperforming its peers so far this year.
Looking more specifically, DDOG belongs to the Internet – Software industry, which includes 90 individual stocks and currently sits at #44 in the Zacks Industry Rank. This group has gained an average of 49.99% so far this year, so DDOG is performing better in this area.
Investors with an interest in Computer and Technology stocks should continue to track DDOG. The stock will be looking to continue its solid performance.
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