For those looking to find strong Business Services stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Dave Inc. (DAVE) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Dave Inc. is one of 233 individual stocks in the Business Services sector. Collectively, these companies sit at #11 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. Dave Inc. is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for DAVE's full-year earnings has moved 21.2% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, DAVE has gained about 8% so far this year. In comparison, Business Services companies have returned an average of -11.3%. This shows that Dave Inc. is outperforming its peers so far this year.
Another stock in the Business Services sector, UL Solutions Inc. (ULS), has outperformed the sector so far this year. The stock's year-to-date return is 26.8%.
The consensus estimate for UL Solutions Inc.'s current year EPS has increased 12% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Dave Inc. is a member of the Technology Services industry, which includes 111 individual companies and currently sits at #170 in the Zacks Industry Rank. On average, stocks in this group have lost 5.1% this year, meaning that DAVE is performing better in terms of year-to-date returns.
In contrast, UL Solutions Inc. falls under the Business - Services industry. Currently, this industry has 20 stocks and is ranked #95. Since the beginning of the year, the industry has moved -15.9%.
Going forward, investors interested in Business Services stocks should continue to pay close attention to Dave Inc. and UL Solutions Inc. as they could maintain their solid performance.
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Dave Inc. (DAVE): Free Stock Analysis Report
UL Solutions Inc. (ULS): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).