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Is Square (SQ) 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. Has Square (SQ) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

Square is one of 621 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 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 proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. SQ is currently sporting a Zacks Rank of #3 (Hold).

Over the past three months, the Zacks Consensus Estimate for SQ's full-year earnings has moved 26.08% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the latest available data, SQ has gained about 13.84% so far this year. In comparison, Computer and Technology companies have returned an average of 13.64%. This means that Square is outperforming the sector as a whole this year.

To break things down more, SQ belongs to the Internet - Software industry, a group that includes 112 individual companies and currently sits at #173 in the Zacks Industry Rank. On average, stocks in this group have lost 8.92% 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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