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. Has Cisco Systems (CSCO) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
Cisco Systems is one of 638 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #7 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. CSCO is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for CSCO's full-year earnings has moved 1.86% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, CSCO has gained about 32.98% so far this year. In comparison, Computer and Technology companies have returned an average of 22.35%. This shows that Cisco Systems is outperforming its peers so far this year.
Breaking things down more, CSCO is a member of the Computer - Networking industry, which includes 8 individual companies and currently sits at #39 in the Zacks Industry Rank. This group has gained an average of 34.29% so far this year, so CSCO is slightly underperforming its industry in this area.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to CSCO as it looks to continue its solid performance.
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