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Is Allot (ALLT) Stock Outpacing Its Business Services Peers This Year?

Zacks Equity Research
·2-min read

For those looking to find strong Business Services stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Allot Communications (ALLT) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

Allot Communications is one of 316 individual stocks in the Business Services sector. Collectively, these companies sit 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. Allot Communications is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for ALLT's full-year earnings has moved 47.7% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

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Our latest available data shows that ALLT has returned about 29.7% since the start of the calendar year. At the same time, Business Services stocks have gained an average of 4.1%. As we can see, Allot Communications is performing better than its sector in the calendar year.

Another stock in the Business Services sector, Maplebear (CART), has outperformed the sector so far this year. The stock's year-to-date return is 28.4%.

For Maplebear, the consensus EPS estimate for the current year has increased 108.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Allot Communications belongs to the Technology Services industry, a group that includes 173 individual stocks and currently sits at #60 in the Zacks Industry Rank. This group has gained an average of 13.5% so far this year, so ALLT is performing better in this area. Maplebear is also part of the same industry.

Allot Communications and Maplebear could continue their solid performance, so investors interested in Business Services stocks should continue to pay close attention to these stocks.

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Allot Ltd. (ALLT) : Free Stock Analysis Report

Maplebear Inc. (CART) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research