Is Cricut (CRCT) 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 Cricut, Inc. (CRCT) one of those stocks right now? 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.Cricut, Inc. is a member of our Business Services group, which includes 253 different companies and currently sits at #4 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.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. Cricut, Inc. is currently sporting a Zacks Rank of #2 (Buy).Over the past three months, the Zacks Consensus Estimate for CRCT's full-year earnings has moved 27.3% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.Based on the most recent data, CRCT has returned 18.4% so far this year. At the same time, Business Services stocks have gained an average of 0%. This means that Cricut, Inc. is performing better than its sector in terms of year-to-date returns.Another stock in the Business Services sector, Digi Power X Inc. (DGXX), has outperformed the sector so far this year. The stock's year-to-date return is 62.7%.For Digi Power X Inc., the consensus EPS estimate for the current year has increased 65.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).Looking more specifically, Cricut, Inc. belongs to the Technology Services industry, which includes 118 individual stocks and currently sits at #84 in the Zacks Industry Rank. On average, stocks in this group have gained 39.3% this year, meaning that CRCT is slightly underperforming its industry in terms of year-to-date returns. Digi Power X Inc. is also part of the same industry.Investors interested in the Business Services sector may want to keep a close eye on Cricut, Inc. and Digi Power X 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 Cricut, Inc. (CRCT): Free Stock Analysis Report Digi Power X Inc. (DGXX): 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