Has Evolent Health (EVH) Outpaced Other Computer and Technology Stocks 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. Has Evolent Health (EVH) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Evolent Health is one of 666 companies in the Computer and Technology group. The Computer and Technology group currently sits at #9 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. Evolent Health is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for EVH's full-year earnings has moved 81.8% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, EVH has moved about 10.2% on a year-to-date basis. Meanwhile, stocks in the Computer and Technology group have lost about 29.6% on average. This shows that Evolent Health is outperforming its peers so far this year.
Another Computer and Technology stock, which has outperformed the sector so far this year, is KT Corp. (KT). The stock has returned 13.9% year-to-date.
Over the past three months, KT Corp.'s consensus EPS estimate for the current year has increased 2.3%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Evolent Health belongs to the Internet - Software industry, which includes 148 individual stocks and currently sits at #144 in the Zacks Industry Rank. On average, this group has lost an average of 51.8% so far this year, meaning that EVH is performing better in terms of year-to-date returns.
In contrast, KT Corp. falls under the Wireless Non-US industry. Currently, this industry has 14 stocks and is ranked #210. Since the beginning of the year, the industry has moved -0.3%.
Investors interested in the Computer and Technology sector may want to keep a close eye on Evolent Health and KT Corp. as they attempt to continue their solid performance.
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