For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Globalstar (GSAT) one of those stocks right now? 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.
Globalstar is one of 669 companies in the Computer and Technology group. The Computer and Technology group currently sits at #11 within 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. Globalstar is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for GSAT’s full-year earnings has moved 9.1% higher. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.
Our latest available data shows that GSAT has returned about 9.5% since the start of the calendar year. Meanwhile, the Computer and Technology sector has returned an average of -28.9% on a year-to-date basis. This means that Globalstar is outperforming the sector as a whole this year.
Another stock in the Computer and Technology sector, i3 Verticals (IIIV), has outperformed the sector so far this year. The stock’s year-to-date return is 10%.
Over the past three months, i3 Verticals’ consensus EPS estimate for the current year has increased 28%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Globalstar is a member of the Satellite and Communication industry, which includes 8 individual companies and currently sits at #44 in the Zacks Industry Rank. On average, stocks in this group have lost 25% this year, meaning that GSAT is performing better in terms of year-to-date returns.
i3 Verticals, however, belongs to the Internet – Software industry. Currently, this 149-stock industry is ranked #146. The industry has moved -49.5% so far this year.
Investors interested in the Computer and Technology sector may want to keep a close eye on Globalstar and i3 Verticals as they attempt to continue their solid performance.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.