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Has Salesforce.com (CRM) Outpaced Other Computer and Technology Stocks This Year?

Zacks Equity Research
Updated
The Macerich Company (MAC) opens Scottsdale Fashion Square's refurbished luxury wing. The face-lift enables the mall to add an impressive tenant lineup to its roster.

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 Salesforce.com (CRM) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

Salesforce.com is one of 596 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #4 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. CRM is currently sporting a Zacks Rank of #1 (Strong Buy).

Within the past quarter, the Zacks Consensus Estimate for CRM's full-year earnings has moved 20.52% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

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Based on the latest available data, CRM has gained about 34.80% so far this year. At the same time, Computer and Technology stocks have gained an average of 3.49%. This means that Salesforce.com is outperforming the sector as a whole this year.

Looking more specifically, CRM belongs to the Computer - Software industry, which includes 42 individual stocks and currently sits at #93 in the Zacks Industry Rank. On average, this group has gained an average of 18.85% so far this year, meaning that CRM is performing better in terms of year-to-date returns.

Investors in the Computer and Technology sector will want to keep a close eye on CRM as it attempts to continue its solid performance.


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Zacks Investment Research