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. CyberArk Software (CYBR) 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? One simple way to answer this question is to take a look at the year-to-date performance of CYBR and the rest of the Computer and Technology group's stocks.
CyberArk Software is one of 647 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #4 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 model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. CYBR is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for CYBR's full-year earnings has moved 3.68% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that CYBR has returned about 8.11% since the start of the calendar year. Meanwhile, the Computer and Technology sector has returned an average of 7.19% on a year-to-date basis. This means that CyberArk Software is performing better than its sector in terms of year-to-date returns.
Looking more specifically, CYBR belongs to the Security industry, which includes 11 individual stocks and currently sits at #57 in the Zacks Industry Rank. On average, stocks in this group have gained 8.19% this year, meaning that CYBR is slightly underperforming its industry in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track CYBR. The stock will be looking to continue its solid performance.