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Is Alphabet (GOOGL) Stock Outpacing Its Computer and Technology Peers This Year?

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. Is Alphabet (GOOGL) one of those stocks right now? 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.

Alphabet is a member of the Computer and Technology sector. This group includes 647 individual stocks and currently holds a Zacks Sector Rank of #8. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.

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. GOOGL is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for GOOGL's full-year earnings has moved 13.87% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Our latest available data shows that GOOGL has returned about 58.52% since the start of the calendar year. In comparison, Computer and Technology companies have returned an average of 18.24%. This shows that Alphabet is outperforming its peers so far this year.

Breaking things down more, GOOGL is a member of the Internet - Services industry, which includes 48 individual companies and currently sits at #155 in the Zacks Industry Rank. This group has gained an average of 35.30% so far this year, so GOOGL is performing better in this area.

Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to GOOGL as it looks to continue its solid performance.


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Alphabet Inc. (GOOGL): Free Stock Analysis Report
 
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