Has Intuit (INTU) 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. Is Intuit (INTU) one of those stocks right now? 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 615 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 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. INTU is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for INTU's full-year earnings has moved 6.89% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, INTU has moved about 36.32% on a year-to-date basis. Meanwhile, the Computer and Technology sector has returned an average of 32.58% on a year-to-date basis. This shows that Intuit is outperforming its peers so far this year.
Looking more specifically, INTU belongs to the Computer - Software industry, which includes 41 individual stocks and currently sits at #180 in the Zacks Industry Rank. On average, this group has gained an average of 32.30% so far this year, meaning that INTU is performing better in terms of year-to-date returns.
INTU will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company.
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