Yahoo Finance Is Cellebrite DI Ltd. (CLBT) Outperforming Other Business Services Stocks This Year?
For those looking to find strong Business Services stocks, it is prudent to search for companies in the group that are outperforming their peers. Cellebrite DI Ltd. (CLBT) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
Cellebrite DI Ltd. is one of 315 companies in the Business Services group. The Business Services group currently sits at #5 within 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 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. Cellebrite DI Ltd. is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for CLBT's full-year earnings has moved 22.1% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, CLBT has moved about 32.9% on a year-to-date basis. Meanwhile, stocks in the Business Services group have gained about 10% on average. This means that Cellebrite DI Ltd. is outperforming the sector as a whole this year.
Another Business Services stock, which has outperformed the sector so far this year, is Viant Technology (DSP). The stock has returned 58.5% year-to-date.
In Viant Technology's case, the consensus EPS estimate for the current year increased 46.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Cellebrite DI Ltd. belongs to the Technology Services industry, which includes 174 individual stocks and currently sits at #89 in the Zacks Industry Rank. Stocks in this group have gained about 15.9% so far this year, so CLBT is performing better this group in terms of year-to-date returns. Viant Technology is also part of the same industry.
Investors with an interest in Business Services stocks should continue to track Cellebrite DI Ltd. and Viant Technology. These stocks will be looking to continue their solid performance.
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Cellebrite DI Ltd. (CLBT) : Free Stock Analysis Report
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