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Has Square (SQ) Outpaced Other Computer and Technology Stocks This Year?

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? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.

Square is a member of our Computer and Technology group, which includes 630 different companies and currently sits at #4 in 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. SQ is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for SQ's full-year earnings has moved 44.06% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the most recent data, SQ has returned 5.07% so far this year. Meanwhile, stocks in the Computer and Technology group have lost about 10.89% on average. As we can see, Square is performing better than its sector in the calendar year.

Looking more specifically, SQ belongs to the Internet - Software industry, which includes 91 individual stocks and currently sits at #154 in the Zacks Industry Rank. On average, stocks in this group have lost 5.01% this year, meaning that SQ 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 SQ as it attempts to continue its solid performance.


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