Investors interested in Business Services stocks should always be looking to find the best-performing companies in the group. Is BlackSky Technology Inc. (BKSY) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
BlackSky Technology Inc. is one of 246 companies in the Business Services group. The Business Services group currently sits at #9 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. BlackSky Technology Inc. is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for BKSY's full-year earnings has moved 4.2% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, BKSY has gained about 52.6% so far this year. Meanwhile, stocks in the Business Services group have lost about 8.5% on average. This means that BlackSky Technology Inc. is outperforming the sector as a whole this year.
One other Business Services stock that has outperformed the sector so far this year is Paymentus (PAY). The stock is up 23.4% year-to-date.
In Paymentus' case, the consensus EPS estimate for the current year increased 15.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, BlackSky Technology Inc. belongs to the Technology Services industry, which includes 121 individual stocks and currently sits at #161 in the Zacks Industry Rank. Stocks in this group have lost about 8% so far this year, so BKSY is performing better this group in terms of year-to-date returns.
In contrast, Paymentus falls under the Financial Transaction Services industry. Currently, this industry has 37 stocks and is ranked #162. Since the beginning of the year, the industry has moved -7.1%.
Investors with an interest in Business Services stocks should continue to track BlackSky Technology Inc. and Paymentus. These stocks will be looking 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).