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Is Globalstar (GSAT) Outperforming Other Computer and Technology Stocks This Year?

Zacks Equity Research
·2-min read

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. Globalstar (GSAT) 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? One simple way to answer this question is to take a look at the year-to-date performance of GSAT and the rest of the Computer and Technology group's stocks.

Globalstar is one of 648 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #7 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 is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. GSAT is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for GSAT's full-year earnings has moved 7.69% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

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Based on the most recent data, GSAT has returned 387.30% so far this year. At the same time, Computer and Technology stocks have gained an average of 26.91%. This means that Globalstar is performing better than its sector in terms of year-to-date returns.

Breaking things down more, GSAT is a member of the Satellite and Communication industry, which includes 8 individual companies and currently sits at #100 in the Zacks Industry Rank. Stocks in this group have gained about 14.79% so far this year, so GSAT is performing better this group in terms of year-to-date returns.

GSAT 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.


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Zacks Investment Research