Is Agora (API) Stock Outpacing Its Business Services Peers This Year?
Investors interested in Business Services stocks should always be looking to find the best-performing companies in the group. Is AgoraAPI--, Inc. Sponsored ADR (API) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Agora, Inc. Sponsored ADR is a member of the Business Services sector. This group includes 238 individual stocks and currently holds a Zacks Sector Rank of #14. 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 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. Agora, Inc. Sponsored ADR is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for API's full-year earnings has moved 54.5% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, APIAPI-- has gained about 12% so far this year. At the same time, Business Services stocks have lost an average of 6.8%. This means that Agora, Inc. Sponsored ADR is outperforming the sector as a whole this year.
One other Business Services stock that has outperformed the sector so far this year is Montrose Environmental (MEG). The stock is up 14.3% year-to-date.
For Montrose Environmental, the consensus EPS estimate for the current year has increased 18.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Agora, Inc. Sponsored ADR belongs to the Technology Services industry, a group that includes 109 individual stocks and currently sits at #170 in the Zacks Industry Rank. On average, stocks in this group have lost 8.7% this year, meaning that API is performing better in terms of year-to-date returns.
On the other hand, Montrose Environmental belongs to the Waste Removal Services industry. This 21-stock industry is currently ranked #190. The industry has moved +4.8% year to date.
Going forward, investors interested in Business Services stocks should continue to pay close attention to Agora, Inc. Sponsored ADR and Montrose Environmental as they could maintain their solid performance.
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Agora, Inc. Sponsored ADR (API): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).
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