For those looking to find strong Business Services stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Futu Holdings Limited Sponsored ADR (FUTU) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Business Services peers, we might be able to answer that question.
Futu Holdings Limited Sponsored ADR is a member of our Business Services group, which includes 258 different companies and currently sits at #5 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 is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Futu Holdings Limited Sponsored ADR is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for FUTU's full-year earnings has moved 7.8% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, FUTU has returned 112.1% so far this year. In comparison, Business Services companies have returned an average of -8.2%. This means that Futu Holdings Limited Sponsored ADR is performing better than its sector in terms of year-to-date returns.
Veritone, Inc. (VERI) is another Business Services stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 32.9%.
The consensus estimate for Veritone, Inc.'s current year EPS has increased 13.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Futu Holdings Limited Sponsored ADR is a member of the Technology Services industry, which includes 123 individual companies and currently sits at #69 in the Zacks Industry Rank. On average, stocks in this group have gained 20.1% this year, meaning that FUTU is performing better in terms of year-to-date returns. Veritone, Inc. is also part of the same industry.
Futu Holdings Limited Sponsored ADR and Veritone, Inc. could continue their solid performance, so investors interested in Business Services stocks should continue to pay close attention to these stocks.
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Futu Holdings Limited Sponsored ADR (FUTU): Free Stock Analysis Report Veritone, Inc. (VERI): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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