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. Is Identiv (INVE) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
Identiv is a member of our Computer and Technology group, which includes 647 different companies and currently sits at #4 in 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 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. INVE is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for INVE's full-year earnings has moved 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 INVE has returned about 44.72% since the start of the calendar year. Meanwhile, the Computer and Technology sector has returned an average of 4.79% on a year-to-date basis. This means that Identiv is outperforming the sector as a whole this year.
To break things down more, INVE belongs to the Computer - Peripheral Equipment industry, a group that includes 12 individual companies and currently sits at #70 in the Zacks Industry Rank. On average, this group has gained an average of 12.73% so far this year, meaning that INVE is performing better in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track INVE. The stock will be looking to continue its solid performance.