Are Computer and Technology Stocks Lagging CyberArk Software (CYBR) 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 CyberArk (CYBR) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
CyberArk is one of 621 companies in the Computer and Technology group. The Computer and Technology group currently sits at #12 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 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. CyberArk is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CYBR's full-year earnings has moved 12.4% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, CYBR has returned 20.5% so far this year. In comparison, Computer and Technology companies have returned an average of 7.7%. This means that CyberArk is outperforming the sector as a whole this year.
One other Computer and Technology stock that has outperformed the sector so far this year is Veeco Instruments (VECO). The stock is up 10.1% year-to-date.
Over the past three months, Veeco Instruments' consensus EPS estimate for the current year has increased 2.4%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, CyberArk belongs to the Computers - IT Services industry, a group that includes 39 individual stocks and currently sits at #101 in the Zacks Industry Rank. This group has gained an average of 5.8% so far this year, so CYBR is performing better in this area.
On the other hand, Veeco Instruments belongs to the Electronics - Manufacturing Machinery industry. This 8-stock industry is currently ranked #241. The industry has moved +3.2% year to date.
Investors with an interest in Computer and Technology stocks should continue to track CyberArk and Veeco Instruments. These stocks will be looking to continue their solid performance.
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CyberArk Software Ltd. (CYBR) : Free Stock Analysis Report
Veeco Instruments Inc. (VECO) : Free Stock Analysis Report
