Investors focused on the Computer and Technology space have likely heard of salesforce.com (CRM), but is the stock performing well in comparison to the rest of its sector peers? Let’s take a closer look at the stock’s year-to-date performance to find out.
salesforce.com is a member of our Computer and Technology group, which includes 604 different companies and currently sits at #5 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. CRM is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for CRM’s full-year earnings has moved 0.49% higher within the past quarter. This means that analyst sentiment is stronger and the stock’s earnings outlook is improving.
Based on the latest available data, CRM has gained about 67.44% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 29.27% on average. This shows that salesforce.com is outperforming its peers so far this year.
To break things down more, CRM belongs to the Computer – Software industry, a group that includes 42 individual companies and currently sits at #64 in the Zacks Industry Rank. Stocks in this group have gained about 38.40% so far this year, so CRM is performing better this group in terms of year-to-date returns.
CRM 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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