U.S. markets closed
  • S&P 500

    +44.21 (+1.10%)
  • Dow 30

    +205.57 (+0.61%)
  • Nasdaq

    +199.06 (+1.76%)
  • Russell 2000

    +12.75 (+0.67%)
  • Crude Oil

    +0.95 (+1.19%)
  • Gold

    -12.90 (-0.66%)
  • Silver

    +0.08 (+0.33%)

    -0.0026 (-0.24%)
  • 10-Yr Bond

    +0.0310 (+0.90%)

    +0.0002 (+0.02%)

    +0.6680 (+0.52%)

    -362.88 (-1.55%)
  • CMC Crypto 200

    -3.30 (-0.63%)
  • FTSE 100

    +16.24 (+0.21%)
  • Nikkei 225

    -32.26 (-0.12%)

Is Model N (MODN) Outperforming 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 Model N (MODN) 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.

Model N is a member of our Computer and Technology group, which includes 654 different companies and currently sits at #4 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

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. Model N is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for MODN's full-year earnings has moved 63.9% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Based on the most recent data, MODN has returned 26.3% so far this year. Meanwhile, the Computer and Technology sector has returned an average of -32.4% on a year-to-date basis. This means that Model N is performing better than its sector in terms of year-to-date returns.

One other Computer and Technology stock that has outperformed the sector so far this year is Impinj (PI). The stock is up 26.7% year-to-date.

The consensus estimate for Impinj's current year EPS has increased 30.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Model N belongs to the Internet - Software industry, a group that includes 151 individual stocks and currently sits at #63 in the Zacks Industry Rank. Stocks in this group have lost about 61.3% so far this year, so MODN is performing better this group in terms of year-to-date returns.

On the other hand, Impinj belongs to the Electronics - Semiconductors industry. This 40-stock industry is currently ranked #205. The industry has moved -29% year to date.

Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to Model N and Impinj as they could maintain their solid performance.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Model N, Inc. (MODN) : Free Stock Analysis Report

Impinj, Inc. (PI) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research