Is Agora (API) Shares Performing Better Than Other Business Services Stocks This Year?

Top Performing Business Services Stocks: Agora and Montrose Environmental

For those tracking the Business Services sector, identifying standout stocks is essential. One company drawing attention is Agora (API). Let's examine how API has performed so far this year.

Agora operates within the Business Services sector, which currently consists of 238 companies and holds the #14 spot in the Zacks Sector Ranking. This ranking system evaluates the relative strength of 16 sectors by analyzing the average Zacks Rank of their constituent stocks.

The Zacks Rank system focuses on changes in earnings estimates to pinpoint companies with improving profit outlooks. Historically, stocks with higher Zacks Ranks have outperformed the market over the following one to three months. At present, Agora holds a Zacks Rank of #1, indicating a strong buy recommendation.

In the past quarter, analyst consensus for Agora’s full-year earnings has increased by 54.5%, reflecting growing optimism about the company’s financial prospects.

According to the most recent data, API has climbed approximately 12% year-to-date, while the broader Business Services sector has declined by an average of 6.8%. This demonstrates that Agora is outperforming its peers in the sector.

Another notable outperformer is Montrose Environmental (MEG), which has gained 14.3% since the start of the year.

Montrose Environmental’s consensus earnings per share estimate for the current year has risen by 18.9% over the past three months. The stock currently carries a Zacks Rank of #2, signaling a buy rating.

Delving deeper, Agora is part of the Technology Services industry, which includes 109 stocks and is currently ranked #170 by Zacks. On average, companies in this group have lost 8.7% this year, making Agora’s positive performance even more notable.

In contrast, Montrose Environmental is categorized under the Waste Removal Services industry, which comprises 21 stocks and holds the #190 spot. This industry has advanced by 4.8% year-to-date.

Looking ahead, investors focused on Business Services should keep an eye on both Agora and Montrose Environmental, as their strong momentum could continue.

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• Agora, Inc. Sponsored ADR (API): Free Stock Analysis Report
• Montrose Environmental Group, Inc. (MEG): Free Stock Analysis Report

Originally published by Zacks Investment Research

Zacks Investment Research