October 20, 2020

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Inspired by Technology

Is Pinterest (PINS) Outperforming Other Computer and Technology Stocks This Year?

2 min read

Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Pinterest (PINS) 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? A quick glance at the company’s year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.

Pinterest is one of 612 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #2 in 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 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. PINS is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for PINS’s full-year earnings has moved 16.48% higher. This signals that analyst sentiment is improving and the stock’s earnings outlook is more positive.

According to our latest data, PINS has moved about 8.69% on a year-to-date basis. In comparison, Computer and Technology companies have returned an average of 4.85%. As we can see, Pinterest is performing better than its sector in the calendar year.

Looking more specifically, PINS belongs to the Internet – Software industry, which includes 90 individual stocks and currently sits at #26 in the Zacks Industry Rank. On average, stocks in this group have gained 33.02% this year, meaning that PINS 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 PINS as it looks to continue its solid performance.

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