Investors interested in Business Services stocks should always be looking to find the best-performing companies in the group. Is Nano-X Imaging Ltd. (NNOX) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Business Services sector should help us answer this question.
Nano-X Imaging Ltd. is a member of the Business Services sector. This group includes 292 individual stocks and currently holds a Zacks Sector Rank of #4. 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. Nano-X Imaging Ltd. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for NNOX's full-year earnings has moved 1.6% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that NNOX has returned about 23.2% since the start of the calendar year. In comparison, Business Services companies have returned an average of 20.2%. This means that Nano-X Imaging Ltd. is performing better than its sector in terms of year-to-date returns.
One other Business Services stock that has outperformed the sector so far this year is VerifyMe, Inc. (VRME). The stock is up 28.7% year-to-date.
The consensus estimate for VerifyMe, Inc.'s current year EPS has increased 10.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Nano-X Imaging Ltd. belongs to the Technology Services industry, a group that includes 156 individual stocks and currently sits at #73 in the Zacks Industry Rank. On average, this group has gained an average of 53.2% so far this year, meaning that NNOX is slightly underperforming its industry in terms of year-to-date returns. VerifyMe, Inc. is also part of the same industry.
Going forward, investors interested in Business Services stocks should continue to pay close attention to Nano-X Imaging Ltd. and VerifyMe, Inc. as they could maintain their solid performance.
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