Investors interested in Business Services stocks should always be looking to find the best-performing companies in the group. Is Marqeta (MQ) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Business Services sector should help us answer this question.
Marqeta is one of 253 individual stocks in the Business Services sector. Collectively, these companies sit at #6 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. Marqeta is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for MQ's full-year earnings has moved 59.4% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, MQ has moved about 51.2% on a year-to-date basis. Meanwhile, stocks in the Business Services group have gained about 1.5% on average. This means that Marqeta is performing better than its sector in terms of year-to-date returns.
One other Business Services stock that has outperformed the sector so far this year is Microvast Holdings, Inc. (MVST). The stock is up 86% year-to-date.
Over the past three months, Microvast Holdings, Inc.'s consensus EPS estimate for the current year has increased 78.9%. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Marqeta belongs to the Financial Transaction Services industry, a group that includes 34 individual companies and currently sits at #63 in the Zacks Industry Rank. This group has gained an average of 2.6% so far this year, so MQ is performing better in this area.
On the other hand, Microvast Holdings, Inc. belongs to the Technology Services industry. This 118-stock industry is currently ranked #91. The industry has moved +41.7% year to date.
Investors interested in the Business Services sector may want to keep a close eye on Marqeta and Microvast Holdings, Inc. as they attempt to continue their solid performance.
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Marqeta, Inc. (MQ): Free Stock Analysis Report Microvast Holdings, Inc. (MVST): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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