For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Blink Charging (BLNK) been one of those stocks this year? 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.
Blink Charging is one of 597 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #2 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 proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Blink Charging is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for BLNK's full-year earnings has moved 33.3% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that BLNK has returned about 20.4% since the start of the calendar year. Meanwhile, stocks in the Computer and Technology group have gained about 6% on average. This means that Blink Charging is outperforming the sector as a whole this year.
Bel Fuse (BELFB) is another Computer and Technology stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 50%.
For Bel Fuse, the consensus EPS estimate for the current year has increased 4.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Blink Charging belongs to the Electronics - Miscellaneous Services industry, a group that includes 3 individual companies and currently sits at #93 in the Zacks Industry Rank. Stocks in this group have gained about 64.5% so far this year, so BLNK is slightly underperforming its industry this group in terms of year-to-date returns.
In contrast, Bel Fuse falls under the Electronics - Miscellaneous Products industry. Currently, this industry has 32 stocks and is ranked #34. Since the beginning of the year, the industry has moved +43.2%.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to Blink Charging and Bel Fuse as they could maintain their solid performance.
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This article originally published on Zacks Investment Research (zacks.com).