The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Upstart Holdings (UPST) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of UPST and the rest of the Computer and Technology group’s stocks.
Upstart Holdings is a member of our Computer and Technology group, which includes 627 different companies and currently sits at #13 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. UPST is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for UPST’s full-year earnings has moved 183.61% higher. This means that analyst sentiment is stronger and the stock’s earnings outlook is improving.
Based on the most recent data, UPST has returned 488.47% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 27.06% on a year-to-date basis. This shows that Upstart Holdings is outperforming its peers so far this year.
Breaking things down more, UPST is a member of the Computers – IT Services industry, which includes 39 individual companies and currently sits at #170 in the Zacks Industry Rank. This group has gained an average of 27% so far this year, so UPST is performing better in this area.
Investors with an interest in Computer and Technology stocks should continue to track UPST. The stock will be looking to continue its solid performance.
Tech IPOs With Massive Profit Potential: Last years top IPOs surged as much as 299% within the first two months. With record amounts of cash flooding into IPOs and a record-setting stock market, this year could be even more lucrative.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.