Benzinga – by Zacks, Benzinga Contributor.
The Business Services sector offers a variety of promising stocks for investors to consider. One standout stock in this sector is Spotify (NYSE: SPOT). But how does Spotify’s recent performance compare to its peers in the industry? Let’s take a closer look at the numbers to find out.
Spotify is just one of 315 individual stocks in the Business Services sector. Overall, these companies are ranked at #2 in the Zacks Sector Rank, which measures the strength of individual sector groups based on the average Zacks Rank of the stocks within them.
Spotify currently holds a Zacks Rank of #1 (Strong Buy), indicating a positive outlook for the company. Analysts have increased their full-year earnings estimate for Spotify by 33.9% in the past quarter, showing improved sentiment and a stronger earnings outlook.
Year-to-date, Spotify has delivered a return of 61.3%, outperforming the average 7.4% gain seen in the Business Services sector. Another top performer in the sector is Inter & Co. Inc. (INTR), which has returned 10.1% so far this year.
In terms of industry comparison, Spotify belongs to the Technology Services industry, which includes 173 companies and currently ranks at #54 in the Zacks Industry Rank. On average, this industry has seen a 16.4% gain year-to-date, making Spotify’s performance even more impressive. Inter & Co. Inc. is also part of this industry.
Investors interested in the Business Services sector may want to keep a close watch on Spotify and Inter & Co. Inc. as they continue to demonstrate strong performance.
(Source: Benzinga)