Is UiPath (PATH) Stock Outpacing Its Computer and Technology Peers This Year?

For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. UiPath (PATH) 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? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.UiPath is a member of our Computer and Technology group, which includes 608 different companies and currently sits at #5 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 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. UiPath is currently sporting a Zacks Rank of #2 (Buy).Over the past three months, the Zacks Consensus Estimate for PATH's full-year earnings has moved 114.3% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.Based on the most recent data, PATH has returned 2.7% so far this year. At the same time, Computer and Technology stocks have gained an average of 0.4%. This means that UiPath is performing better than its sector in terms of year-to-date returns.Calix (CALX) is another Computer and Technology stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 35.6%.In Calix's case, the consensus EPS estimate for the current year increased 75.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).Looking more specifically, UiPath belongs to the Internet - Software industry, a group that includes 169 individual stocks and currently sits at #55 in the Zacks Industry Rank. This group has gained an average of 12.6% so far this year, so PATH is slightly underperforming its industry in this area. Calix is also part of the same industry.Investors with an interest in Computer and Technology stocks should continue to track UiPath and Calix. These stocks will be looking to continue their solid performance.7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.5% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>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 UiPath, Inc. (PATH): Free Stock Analysis Report Calix, Inc (CALX): 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