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Is Wix.com (WIX) Outperforming Other Computer and Technology Stocks 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 Wix.com (WIX) one of those stocks right now? 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.

Wix.com is one of 644 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #6 in the Zacks Sector Rank. 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. WIX is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for WIX's full-year earnings has moved 68.22% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Our latest available data shows that WIX has returned about 20.30% since the start of the calendar year. Meanwhile, stocks in the Computer and Technology group have gained about 12.09% on average. This means that Wix.com is performing better than its sector in terms of year-to-date returns.

Looking more specifically, WIX belongs to the Computers - IT Services industry, a group that includes 27 individual stocks and currently sits at #46 in the Zacks Industry Rank. Stocks in this group have gained about 19.11% so far this year, so WIX is performing better this group in terms of year-to-date returns.

WIX 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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