Are Computer and Technology Stocks Lagging monday.com (MNDY) This Year?
Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Monday.com (MNDY) 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.
Monday.com is one of 621 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #11 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. Monday.com is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for MNDY's full-year earnings has moved 81.2% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, MNDY has moved about 10.5% on a year-to-date basis. Meanwhile, stocks in the Computer and Technology group have gained about 9.7% on average. This means that Monday.com is performing better than its sector in terms of year-to-date returns.
One other Computer and Technology stock that has outperformed the sector so far this year is Screen Holdings Co., Ltd (DINRF). The stock is up 73.8% year-to-date.
Over the past three months, Screen Holdings Co., Ltd's consensus EPS estimate for the current year has increased 0.5%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Monday.com is a member of the Internet - Software industry, which includes 146 individual companies and currently sits at #79 in the Zacks Industry Rank. On average, this group has gained an average of 17.5% so far this year, meaning that MNDY is slightly underperforming its industry in terms of year-to-date returns.
Screen Holdings Co., Ltd, however, belongs to the Semiconductor - General industry. Currently, this 8-stock industry is ranked #104. The industry has moved +41.5% so far this year.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to Monday.com and Screen Holdings Co., Ltd as they could maintain their solid performance.
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