For those looking to find strong Business Services stocks, it is prudent to search for companies in the group that are outperforming their peers. Is BlackSky Technology Inc. (BKSY) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Business Services peers, we might be able to answer that question.
BlackSky Technology Inc. is a member of the Business Services sector. This group includes 248 individual stocks and currently holds a Zacks Sector Rank of #9. 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 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. BlackSky Technology Inc. is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for BKSY's full-year earnings has moved 17.4% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that BKSY has returned about 16.8% since the start of the calendar year. In comparison, Business Services companies have returned an average of -13.7%. This means that BlackSky Technology Inc. is outperforming the sector as a whole this year.
Another stock in the Business Services sector, NIQ Global Intelligence plc (NIQ), has outperformed the sector so far this year. The stock's year-to-date return is 5.5%.
In NIQ Global Intelligence plc's case, the consensus EPS estimate for the current year increased 11.3% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, BlackSky Technology Inc. is a member of the Technology Services industry, which includes 122 individual companies and currently sits at #166 in the Zacks Industry Rank. This group has lost an average of 14% so far this year, so BKSY is performing better in this area.
On the other hand, NIQ Global Intelligence plc belongs to the Advertising and Marketing industry. This 16-stock industry is currently ranked #78. The industry has moved -8.9% year to date.
Investors interested in the Business Services sector may want to keep a close eye on BlackSky Technology Inc. and NIQ Global Intelligence plc as they attempt to continue their solid performance.
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BlackSky Technology Inc. (BKSY): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).