For those looking to find strong Business Services stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Marqeta (MQ) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Marqeta is one of 259 individual stocks in the Business Services sector. Collectively, these companies sit at #7 in 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. Marqeta is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for MQ's full-year earnings has moved 74.2% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that MQ has returned about 23.2% since the start of the calendar year. Meanwhile, the Business Services sector has returned an average of -2.8% on a year-to-date basis. As we can see, Marqeta is performing better than its sector in the calendar year.
Nextech3D.AI Corporation (NEXCF) is another Business Services stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 370.2%.
In Nextech3D.AI Corporation's case, the consensus EPS estimate for the current year increased 66.7% over the past three months. The stock currently has a Zacks Rank #2 (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 #143 in the Zacks Industry Rank. This group has lost an average of 5.2% so far this year, so MQ is performing better in this area.
In contrast, Nextech3D.AI Corporation falls under the Technology Services industry. Currently, this industry has 124 stocks and is ranked #88. Since the beginning of the year, the industry has moved +36.8%.
Going forward, investors interested in Business Services stocks should continue to pay close attention to Marqeta and Nextech3D.AI Corporation as they could maintain their solid performance.
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Marqeta, Inc. (MQ): Free Stock Analysis Report Nextech3D.AI Corporation (NEXCF): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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