Is Check Point Software Technologies (CHKP) Outperforming Other Computer and Technology Stocks This Year?
Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Has Check Point Software (CHKP) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Check Point Software is one of 655 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #8 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 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. Check Point Software is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for CHKP's full-year earnings has moved 1.3% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that CHKP has returned about 14.5% since the start of the calendar year. Meanwhile, the Computer and Technology sector has returned an average of -29.7% on a year-to-date basis. As we can see, Check Point Software is performing better than its sector in the calendar year.
One other Computer and Technology stock that has outperformed the sector so far this year is CoStar Group (CSGP). The stock is up 5.6% year-to-date.
For CoStar Group, the consensus EPS estimate for the current year has increased 13.9% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Check Point Software belongs to the Security industry, a group that includes 7 individual companies and currently sits at #64 in the Zacks Industry Rank. On average, stocks in this group have lost 14.3% this year, meaning that CHKP is performing better in terms of year-to-date returns.
CoStar Group, however, belongs to the Computers - IT Services industry. Currently, this 40-stock industry is ranked #77. The industry has moved -27.6% so far this year.
Check Point Software and CoStar Group could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.
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Check Point Software Technologies Ltd. (CHKP) : Free Stock Analysis Report
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