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Investors focused on the Business Services space have likely heard of ShotSpotter (SSTI), but is the stock performing well in comparison to the rest of its sector peers? 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.
ShotSpotter is one of 189 individual stocks in the Business Services sector. Collectively, these companies sit at #6 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. SSTI is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for SSTI's full-year earnings has moved 6.21% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, SSTI has gained about 12.12% so far this year. Meanwhile, stocks in the Business Services group have lost about 23.07% on average. This means that ShotSpotter is outperforming the sector as a whole this year.
Looking more specifically, SSTI belongs to the Technology Services industry, which includes 54 individual stocks and currently sits at #61 in the Zacks Industry Rank. Stocks in this group have lost about 21.49% so far this year, so SSTI is performing better this group in terms of year-to-date returns.
Investors in the Business Services sector will want to keep a close eye on SSTI as it attempts to continue its solid performance.
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