Is Cricut (CRCT) Outperforming Other Business Services Stocks This Year?

For those looking to find strong Business Services stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Cricut, Inc. (CRCT) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

Cricut, Inc. is one of 246 individual stocks in the Business Services sector. Collectively, these companies sit at #10 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Cricut, Inc. is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past three months, the Zacks Consensus Estimate for CRCT's full-year earnings has moved 128.6% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Our latest available data shows that CRCT has returned about 12.9% since the start of the calendar year. At the same time, Business Services stocks have lost an average of 7.9%. This means that Cricut, Inc. is outperforming the sector as a whole this year.

Another stock in the Business Services sector, Fluent (FLNT), has outperformed the sector so far this year. The stock's year-to-date return is 71.9%.

For Fluent, the consensus EPS estimate for the current year has increased 12.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Breaking things down more, Cricut, Inc. is a member of the Technology Services industry, which includes 121 individual companies and currently sits at #147 in the Zacks Industry Rank. Stocks in this group have lost about 11.7% so far this year, so CRCT is performing better this group in terms of year-to-date returns.

In contrast, Fluent falls under the Advertising and Marketing industry. Currently, this industry has 16 stocks and is ranked #63. Since the beginning of the year, the industry has moved +2.2%.

Investors interested in the Business Services sector may want to keep a close eye on Cricut, Inc. and Fluent as they attempt to continue their solid performance.

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This article originally published on Zacks Investment Research (zacks.com).

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