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 639 companies in the Computer and Technology group. The Computer and Technology group currently sits at #6 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. INTU is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for INTU's full-year earnings has moved 3.36% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, INTU has gained about 41.34% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 22.71% on average. This means that Intuit is outperforming the sector as a whole this year.
To break things down more, INTU belongs to the Computer - Software industry, a group that includes 49 individual companies and currently sits at #99 in the Zacks Industry Rank. This group has gained an average of 34.47% so far this year, so INTU is performing better in this area.
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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