Is Gogo (GOGO) Stock Outpacing Its Computer and Technology Peers This Year?
Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Gogo (GOGO) 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.
Gogo is a member of the Computer and Technology sector. This group includes 665 individual stocks and currently holds a Zacks Sector Rank of #9. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. Gogo is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for GOGO's full-year earnings has moved 18.9% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, GOGO has moved about 22.3% on a year-to-date basis. At the same time, Computer and Technology stocks have lost an average of 15.6%. As we can see, Gogo is performing better than its sector in the calendar year.
Another stock in the Computer and Technology sector, Hewlett Packard Enterprise (HPE), has outperformed the sector so far this year. The stock's year-to-date return is 3.8%.
Over the past three months, Hewlett Packard Enterprise's consensus EPS estimate for the current year has increased 14.5%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Gogo belongs to the Wireless National industry, which includes 10 individual stocks and currently sits at #164 in the Zacks Industry Rank. This group has gained an average of 1.4% so far this year, so GOGO is performing better in this area.
In contrast, Hewlett Packard Enterprise falls under the Computer - Integrated Systems industry. Currently, this industry has 7 stocks and is ranked #209. Since the beginning of the year, the industry has moved -5.9%.
Investors interested in the Computer and Technology sector may want to keep a close eye on Gogo and Hewlett Packard Enterprise as they attempt to continue their solid performance.
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