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? 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.
Intuit is one of 634 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 gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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).
Within the past quarter, the Zacks Consensus Estimate for INTU's full-year earnings has moved 4.06% 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 30.81% so far this year. At the same time, Computer and Technology stocks have gained an average of 17.45%. This means that Intuit is outperforming the sector as a whole this year.
Breaking things down more, INTU is a member of the Computer - Software industry, which includes 47 individual companies and currently sits at #106 in the Zacks Industry Rank. On average, stocks in this group have gained 29.03% this year, meaning that INTU is performing better 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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