Has Airgain (AIRG) Outpaced Other Computer and Technology Stocks This Year?
For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Airgain (AIRG) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Airgain is one of 664 companies in the Computer and Technology group. The Computer and Technology group currently sits at #8 within 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Airgain is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for AIRG's full-year earnings has moved 30% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that AIRG has returned about 3.4% since the start of the calendar year. Meanwhile, stocks in the Computer and Technology group have lost about 22.2% on average. This shows that Airgain is outperforming its peers so far this year.
Another Computer and Technology stock, which has outperformed the sector so far this year, is Evolent Health (EVH). The stock has returned 10.5% year-to-date.
Over the past three months, Evolent Health's consensus EPS estimate for the current year has increased 42%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Airgain belongs to the Communication - Components industry, which includes 19 individual stocks and currently sits at #153 in the Zacks Industry Rank. This group has lost an average of 15.5% so far this year, so AIRG is performing better in this area.
On the other hand, Evolent Health belongs to the Internet - Software industry. This 149-stock industry is currently ranked #151. The industry has moved -44.4% year to date.
Investors interested in the Computer and Technology sector may want to keep a close eye on Airgain and Evolent Health as they attempt to continue their solid performance.
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