U.S. Markets close in 47 mins

Has Intuit (INTU) Outpaced Other Computer and Technology Stocks This Year?

Zacks Equity Research
Conagra (CAG) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Investors focused on the Computer and Technology space have likely heard of Intuit (INTU), 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.

Intuit is one of 637 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #7 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 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. INTU is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for INTU's full-year earnings has moved 0.62% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Based on the most recent data, INTU has returned 25.01% so far this year. In comparison, Computer and Technology companies have returned an average of 17.46%. As we can see, Intuit is performing better than its sector in the calendar year.

Breaking things down more, INTU is a member of the Computer - Software industry, which includes 47 individual companies and currently sits at #70 in the Zacks Industry Rank. This group has gained an average of 24.90% so far this year, so INTU is performing better in this area.

Investors with an interest in Computer and Technology stocks should continue to track INTU. The stock will be looking to continue its solid performance.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Intuit Inc. (INTU) : Free Stock Analysis Report
To read this article on Zacks.com click here.