Is Intuit (INTU) Stock Outpacing Its Computer and Technology Peers This Year?
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 630 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #14 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 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 #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for INTU's full-year earnings has moved 19.97% 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 33.39% so far this year. At the same time, Computer and Technology stocks have gained an average of 20.67%. 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 38 individual companies and currently sits at #116 in the Zacks Industry Rank. On average, this group has gained an average of 23.21% so far this year, meaning that INTU is performing better in terms of year-to-date returns.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to INTU as it looks to continue its solid performance.
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