Has Digital Turbine (APPS) Outpaced Other Computer and Technology Stocks This Year?
Investors focused on the Computer and Technology space have likely heard of Digital Turbine (APPS), but is the stock performing well in comparison to the rest of its sector peers? 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.
Digital Turbine is a member of our Computer and Technology group, which includes 607 different companies and currently sits at #9 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. APPS is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for APPS's full-year earnings has moved 3.40% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that APPS has returned about 76.30% since the start of the calendar year. At the same time, Computer and Technology stocks have gained an average of 11.04%. This means that Digital Turbine is outperforming the sector as a whole this year.
To break things down more, APPS belongs to the Internet - Software industry, a group that includes 91 individual companies and currently sits at #45 in the Zacks Industry Rank. This group has gained an average of 49.50% so far this year, so APPS is performing better in this area.
Investors in the Computer and Technology sector will want to keep a close eye on APPS as it attempts to continue its solid performance.
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