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Are Business Services Stocks Lagging BlackSky Technology (BKSY) This Year?
The Business Services group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is BlackSky Technology Inc.BKSY-- (BKSY) one of those stocks right now? 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.
BlackSky Technology Inc. is one of 248 individual stocks in the Business Services sector. Collectively, these companies sit at #11 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 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. BlackSky Technology Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for BKSY's full-year earnings has moved 17.4% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, BKSYBKSY-- has gained about 9.9% so far this year. Meanwhile, stocks in the Business Services group have lost about 11.2% on average. As we can see, BlackSky Technology Inc. is performing better than its sector in the calendar year.
Another Business Services stock, which has outperformed the sector so far this year, is NIQ Global Intelligence plc (NIQ). The stock has returned 8.2% year-to-date.
In NIQ Global Intelligence plc's case, the consensus EPS estimate for the current year increased 11.3% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, BlackSky Technology Inc. is a member of the Technology Services industry, which includes 122 individual companies and currently sits at #162 in the Zacks Industry Rank. Stocks in this group have lost about 11.7% so far this year, so BKSY is performing better this group in terms of year-to-date returns.
In contrast, NIQ Global Intelligence plc falls under the Advertising and Marketing industry. Currently, this industry has 16 stocks and is ranked #41. Since the beginning of the year, the industry has moved -4.7%.
BlackSky Technology Inc. and NIQ Global Intelligence plc 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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BlackSky Technology Inc. (BKSY): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).
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