IInvestors interested in IT and technology stocks should always seek out the best performing companies in the group. salesforce.com (CRM) is one stock that can certainly grab the attention of many investors, but does its recent performance compare favorably with the industry as a whole? A simple way to answer this question is to take a look at the year-to-date performance of CRM and the rest of the Computer and Technology group’s stock.
salesforce.com is a member of our IT and Technology group, which comprises 647 different companies and currently ranks 8th in the Zacks Sector rankings. The Zacks Sector Rankings assesses the strength of our 16 individual Sector Groups by measuring the average Zacks Rank of individual stocks within the groups.
Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that display the right characteristics to beat the market over the next one to three months. The CRM currently displays a Zacks # 1 ranking (strong buy).
Over the past three months, Zacks’ consensus estimate for CRM’s annual earnings has risen 34.19%. This indicates that analyst sentiment is improving and the stock’s earnings outlook is more positive.
Our latest available data shows that the CRM has returned around 27.81% since the start of the calendar year. Meanwhile, shares of the Computer and Technology group gained about 19.59% on average. This means that salesforce.com outperforms its industry in terms of annual returns.
To break it down further, CRM is a member of the IT – Software industry, which comprises 39 individual companies and currently ranks 107th in the Zacks industry rankings. On average, this group has gained an average of 29.34% so far this year, meaning that CRM is slightly underperforming its industry in terms of cumulative returns.
Going forward, investors interested in IT and tech stocks should continue to pay close attention to CRM as it seeks to continue its strong performance.
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salesforce.com, inc. (CRM): Free stock analysis report
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