Technology stocks

Has eGain (EGAN) outperformed other IT and technology stocks this year?

IInvestors interested in IT and technology stocks should always look for the best performing companies in the group. Is eGain (EGAN) one of these actions right now? Looking at the stock’s year-to-date performance against its IT and technology peers, we might be able to answer that question.

eGain is a member of our IT and Technology group, which includes 662 different companies and is currently ranked 9th in the Zacks industry rankings. The Zacks Industry Ranking considers 16 different industry groups. The average Zacks ranking of individual stocks within groups is measured and sectors are listed from best to worst.

The Zacks ranking emphasizes earnings estimates and estimate revisions to find stocks with improved earnings prospects. This system has a long track record of success, and these stocks tend to be on track to beat the market over the next one to three months. eGain currently sports a Zacks rating of #1 (Strong Buy).

Over the past 90 days, the Zacks consensus estimate for EGAN’s full-year earnings rose 54.2%. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.

According to our latest data, EGAN has moved about 2.1% since the beginning of the year. Meanwhile, shares of the IT & Technology group lost around 27.3% on average. This means that eGain has outperformed its sector in terms of year-to-date returns.

Another IT and technology stock that has outperformed the sector so far this year is Evolent Health (EVH). The stock has returned 15% since the start of the year.

Over the past three months, Evolent Health’s consensus EPS estimate for the current year has increased by 88.6%. The stock currently has a Zacks #1 rank (Strong Buy).

Specifically, eGain belongs to the Internet – Software industry, which comprises 147 individual stocks and is currently ranked 107th in Zacks Industry Rank. Shares in this group have lost around 49.3% so far this year, so EGAN is doing better in this group in terms of year-to-date returns. Evolent Health is also part of the same industry.

Investors interested in IT and technology stocks should continue to follow eGain and Evolent Health. These stocks will look to continue their strong performance.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.