Has ePlus (PLUS) Outpaced Other Computer and Technology Stocks This Year?
Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. ePlus (PLUS) 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? 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.
ePlus is one of 664 companies in the Computer and Technology group. The Computer and Technology group currently sits at #8 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. ePlus is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for PLUS' full-year earnings has moved 3.5% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, PLUS has gained about 6.4% so far this year. At the same time, Computer and Technology stocks have lost an average of 27.1%. This shows that ePlus is outperforming its peers so far this year.
Another Computer and Technology stock, which has outperformed the sector so far this year, is Sanmina (SANM). The stock has returned 6% year-to-date.
For Sanmina, the consensus EPS estimate for the current year has increased 8.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, ePlus belongs to the Business - Software Services industry, a group that includes 9 individual companies and currently sits at #106 in the Zacks Industry Rank. On average, this group has lost an average of 29.8% so far this year, meaning that PLUS is performing better in terms of year-to-date returns.
On the other hand, Sanmina belongs to the Electronics - Manufacturing Services industry. This 5-stock industry is currently ranked #18. The industry has moved -8.8% year to date.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to ePlus and Sanmina as they could maintain their solid performance.
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