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Is Intuit (INTU) Outperforming Other Computer and Technology Stocks This Year?

Zacks Equity Research
Taro (TARO) delivered earnings and revenue surprises of -32.74% and -5.26%, respectively, for the quarter ended March 2019. Do the numbers hold clues to what lies ahead for the stock?

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? One simple way to answer this question is to take a look at the year-to-date performance of INTU and the rest of the Computer and Technology group's stocks.

Intuit is one of 641 companies in the Computer and Technology group. The Computer and Technology group currently sits at #4 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader 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 0.62% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

According to our latest data, INTU has moved about 32.11% on a year-to-date basis. In comparison, Computer and Technology companies have returned an average of 21.49%. As we can see, Intuit is performing better than its sector in the calendar year.

Looking more specifically, INTU belongs to the Computer - Software industry, a group that includes 48 individual stocks and currently sits at #10 in the Zacks Industry Rank. Stocks in this group have gained about 21.09% so far this year, so INTU is performing better this group in terms of year-to-date returns.

Investors in the Computer and Technology sector will want to keep a close eye on INTU as it attempts to continue its solid performance.


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