Is Bandwidth (BAND) Stock Outpacing Its Computer and Technology Peers This Year?
Investors focused on the Computer and Technology space have likely heard of Bandwidth (BAND), but is the stock performing well in comparison to the rest of its sector peers? 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.
Bandwidth is one of 612 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 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. BAND is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for BAND’s full-year earnings has moved 35.64% higher. This signals that analyst sentiment is improving and the stock’s earnings outlook is more positive.
Our latest available data shows that BAND has returned about 93.10% since the start of the calendar year. At the same time, Computer and Technology stocks have gained an average of 9.57%. As we can see, Bandwidth is performing better than its sector in the calendar year.
Looking more specifically, BAND belongs to the Communication – Infrastructure industry, a group that includes 5 individual stocks and currently sits at #3 in the Zacks Industry Rank. Stocks in this group have gained about 27.46% so far this year, so BAND is performing better this group in terms of year-to-date returns.
BAND 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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