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Is Zoom Video Communications (ZM) Stock Outpacing Its Computer and Technology Peers This Year?

Zacks Equity Research
Updated ·2-min read

The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Zoom Video Communications (ZM) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

Zoom Video Communications is a member of our Computer and Technology group, which includes 630 different companies and currently sits at #2 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. ZM is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for ZM's full-year earnings has moved 177.78% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

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According to our latest data, ZM has moved about 9.45% on a year-to-date basis. At the same time, Computer and Technology stocks have gained an average of 6.61%. As we can see, Zoom Video Communications is performing better than its sector in the calendar year.

Breaking things down more, ZM is a member of the Internet - Software industry, which includes 92 individual companies and currently sits at #104 in the Zacks Industry Rank. On average, stocks in this group have gained 10.70% this year, meaning that ZM is slightly underperforming its industry in terms of year-to-date returns.

ZM 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.

Click to get this free report Zoom Video Communications, Inc. (ZM) : Free Stock Analysis Report To read this article on Zacks.com click here.