Investors focused on the Computer and Technology space have likely heard of Meet Group (NASDAQ:MEET), but is MEET stock is performing well in comparison to the rest of its sector peers?
One simple way to answer this question is to take a look at the year-to-date performance of MEET stock and the rest of the stocks in the Computer and Technology group.
Meet Group is a member of our Computer and Technology group, which includes 659 different companies and currently sits at No. 6 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. MEET is currently sporting a Zacks Rank of No. 2 (Buy).
Is MEET Stock Still Worth a Look?
Over the past three months, the Zacks Consensus Estimate for MEET’s full-year earnings has moved 10.53% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, MEET stock has gained about 45.03% so far this year. At the same time, Computer and Technology stocks have lost an average of 1.54%. This means that Meet Group is outperforming the sector as a whole this year.
To break things down more, MEET belongs to the Internet – Software industry, a group that includes 89 individual companies and currently sits at No. 31 in the Zacks Industry Rank. This group has gained an average of 4.43% so far this year, so Meet Group stock is performing better in this area.
MEET will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company and Meet Group stock in general.
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