Is Applied Digital Corporation (APLD) Stock Outpacing Its Finance Peers This Year?

The Finance group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Applied Digital Corporation (APLD) 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? Let's take a closer look at the stock's year-to-date performance to find out.Applied Digital Corporation is one of 871 individual stocks in the Finance sector. Collectively, these companies sit at #1 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.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. Applied Digital Corporation is currently sporting a Zacks Rank of #2 (Buy).Over the past 90 days, the Zacks Consensus Estimate for APLD's full-year earnings has moved 64.1% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.Based on the latest available data, APLD has gained about 49% so far this year. In comparison, Finance companies have returned an average of 26.3%. This means that Applied Digital Corporation is performing better than its sector in terms of year-to-date returns.Another stock in the Finance sector, Brookfield Asset Management (BAM), has outperformed the sector so far this year. The stock's year-to-date return is 43.9%.The consensus estimate for Brookfield Asset Management's current year EPS has increased 3.6% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).Breaking things down more, Applied Digital Corporation is a member of the Financial - Miscellaneous Services industry, which includes 84 individual companies and currently sits at #51 in the Zacks Industry Rank. On average, this group has gained an average of 22% so far this year, meaning that APLD is performing better in terms of year-to-date returns. Brookfield Asset Management is also part of the same industry.Investors interested in the Finance sector may want to keep a close eye on Applied Digital Corporation and Brookfield Asset Management as they attempt 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 +24.1% 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 Applied Digital Corporation (APLD): Free Stock Analysis Report Brookfield Asset Management Ltd. (BAM): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks