Has Box (BOX) Outpaced Other Computer and Technology Stocks This Year?October 13, 2020
Investors focused on the Computer and Technology space have likely heard of Box (BOX), but is the stock performing well in comparison to the rest of its sector peers? 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.
Box is a member of our Computer and Technology group, which includes 602 different companies and currently sits at #8 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. BOX is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for BOX’s full-year earnings has moved 28.62% higher. This signals that analyst sentiment is improving and the stock’s earnings outlook is more positive.
Our latest available data shows that BOX has returned about 7.57% since the start of the calendar year. Meanwhile, the Computer and Technology sector has returned an average of 22.06% on a year-to-date basis. As we can see, Box is performing better than its sector in the calendar year.
To break things down more, BOX belongs to the Internet – Software industry, a group that includes 89 individual companies and currently sits at #180 in the Zacks Industry Rank. On average, this group has gained an average of 64.24% so far this year, meaning that BOX is slightly underperforming its industry in terms of year-to-date returns.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to BOX as it looks to continue its solid performance.
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