Are Computer and Technology Stocks Lagging Backblaze (BLZE) This Year?

The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Backblaze, Inc. (BLZE) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.Backblaze, Inc. is one of 603 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #4 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.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. Backblaze, Inc. is currently sporting a Zacks Rank of #2 (Buy).Within the past quarter, the Zacks Consensus Estimate for BLZE's full-year earnings has moved 16.4% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.According to our latest data, BLZE has moved about 73.8% on a year-to-date basis. In comparison, Computer and Technology companies have returned an average of 21.8%. This means that Backblaze, Inc. is performing better than its sector in terms of year-to-date returns.One other Computer and Technology stock that has outperformed the sector so far this year is IZEA WORLDWIDE, INC. (IZEA). The stock is up 37.8% year-to-date.The consensus estimate for IZEA WORLDWIDE, INC.'s current year EPS has increased 41.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).Looking more specifically, Backblaze, Inc. belongs to the Internet - Software industry, a group that includes 171 individual stocks and currently sits at #73 in the Zacks Industry Rank. Stocks in this group have gained about 23.6% so far this year, so BLZE is performing better this group in terms of year-to-date returns. IZEA WORLDWIDE, INC. is also part of the same industry.Investors interested in the Computer and Technology sector may want to keep a close eye on Backblaze, Inc. and IZEA WORLDWIDE, INC. as they attempt to continue their solid performance.Free Report: Profiting from the 2nd Wave of AI ExplosionThe next phase of the AI explosion is poised to create significant wealth for investors, especially those who get in early. It will add literally trillion of dollars to the economy and revolutionize nearly every part of our lives.Investors who bought shares like Nvidia at the right time have had a shot at huge gains.But the rocket ride in the "first wave" of AI stocks may soon come to an end. The sharp upward trajectory of these stocks will begin to level off, leaving exponential growth to a new wave of cutting-edge companies.Zacks' AI Boom 2.0: The Second Wave report reveals 4 under-the-radar companies that may soon be shining stars of AI’s next leap forward.Access AI Boom 2.0 now, absolutely free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Backblaze, Inc. (BLZE): Free Stock Analysis Report IZEA WORLDWIDE, INC. (IZEA): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks