Has Veritone (VERI) Outpaced Other Business Services Stocks This Year?

The Business Services group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Veritone, Inc. (VERI) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.Veritone, Inc. is a member of our Business Services group, which includes 260 different companies and currently sits at #6 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 is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Veritone, Inc. is currently sporting a Zacks Rank of #2 (Buy).Over the past 90 days, the Zacks Consensus Estimate for VERI's full-year earnings has moved 11.5% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.According to our latest data, VERI has moved about 87.2% on a year-to-date basis. Meanwhile, stocks in the Business Services group have lost about 6.2% on average. As we can see, Veritone, Inc. is performing better than its sector in the calendar year.One other Business Services stock that has outperformed the sector so far this year is Xylem (XYL). The stock is up 27.3% year-to-date.In Xylem's case, the consensus EPS estimate for the current year increased 4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).Breaking things down more, Veritone, Inc. is a member of the Technology Services industry, which includes 125 individual companies and currently sits at #59 in the Zacks Industry Rank. This group has gained an average of 36.3% so far this year, so VERI is performing better in this area. In contrast, Xylem falls under the Waste Removal Services industry. Currently, this industry has 22 stocks and is ranked #157. Since the beginning of the year, the industry has moved +7%.Veritone, Inc. and Xylem could continue their solid performance, so investors interested in Business Services stocks should continue to pay close attention to these stocks.Zacks Names #1 Semiconductor StockThis under-the-radar company specializes in semiconductor products that titans like NVIDIA don't build. It's uniquely positioned to take advantage of the next growth stage of this market. And it's just beginning to enter the spotlight, which is exactly where you want to be.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $971 billion by 2028.See This Stock Now for 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 Veritone, Inc. (VERI): Free Stock Analysis Report Xylem Inc. (XYL): 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