May 19, 2024


Digitally first class

Is Facebook (FB) Stock Outpacing Its Computer and Technology Peers This Year?

Investors focused on the Computer and Technology space have likely heard of Facebook (FB), but is the stock performing well in comparison to the rest of its sector peers? 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.

Facebook is a member of our Computer and Technology group, which includes 619 different companies and currently sits at #12 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 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. FB is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for FB’s full-year earnings has moved 16.92% higher within the past quarter. This signals that analyst sentiment is improving and the stock’s earnings outlook is more positive.

Based on the latest available data, FB has gained about 20.68% so far this year. At the same time, Computer and Technology stocks have gained an average of 15.26%. This shows that Facebook is outperforming its peers so far this year.

Looking more specifically, FB belongs to the Internet – Services industry, a group that includes 49 individual stocks and currently sits at #198 in the Zacks Industry Rank. On average, this group has gained an average of 30.75% so far this year, meaning that FB is slightly underperforming its industry in terms of year-to-date returns.

Investors in the Computer and Technology sector will want to keep a close eye on FB as it attempts to continue its solid performance.

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