Investors interested in Business Services stocks should always be looking to find the best-performing companies in the group. Amplitude, Inc. (AMPL) 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? 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.
Amplitude, Inc. is one of 270 companies in the Business Services group. The Business Services group currently sits at #3 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 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. Amplitude, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for AMPL's full-year earnings has moved 14.7% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that AMPL has returned about 17.4% since the start of the calendar year. Meanwhile, the Business Services sector has returned an average of 3.5% on a year-to-date basis. This means that Amplitude, Inc. is outperforming the sector as a whole this year.
Another Business Services stock, which has outperformed the sector so far this year, is LiveRamp (RAMP). The stock has returned 7.4% year-to-date.
For LiveRamp, the consensus EPS estimate for the current year has increased 27.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Amplitude, Inc. belongs to the Technology Services industry, a group that includes 129 individual stocks and currently sits at #48 in the Zacks Industry Rank. On average, this group has gained an average of 5.2% so far this year, meaning that AMPL is performing better in terms of year-to-date returns. LiveRamp is also part of the same industry.
Investors with an interest in Business Services stocks should continue to track Amplitude, Inc. and LiveRamp. These stocks will be looking to continue their solid performance.
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Amplitude, Inc. (AMPL): Free Stock Analysis Report LiveRamp Holdings, Inc. (RAMP): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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