Investors focused on the Computer and Technology space have likely heard of salesforce.com (CRM), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of CRM and the rest of the Computer and Technology group's stocks.
salesforce.com is one of 601 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 gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. CRM is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for CRM's full-year earnings has moved 69.41% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, CRM has moved about 52.15% on a year-to-date basis. Meanwhile, stocks in the Computer and Technology group have gained about 22.62% on average. As we can see, salesforce.com is performing better than its sector in the calendar year.
Looking more specifically, CRM belongs to the Computer - Software industry, a group that includes 42 individual stocks and currently sits at #72 in the Zacks Industry Rank. Stocks in this group have gained about 30.79% so far this year, so CRM is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to CRM as it looks to continue its solid performance.