Is Nova Ltd. (NVMI) Outperforming Other Computer and Technology Stocks This Year?
The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Nova Ltd. (NVMI) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Nova Ltd. is one of 631 companies in the Computer and Technology group. The Computer and Technology group currently sits at #7 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. Nova Ltd. is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for NVMI's full-year earnings has moved 11.2% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that NVMI has returned about 53% since the start of the calendar year. Meanwhile, the Computer and Technology sector has returned an average of 37.8% on a year-to-date basis. This means that Nova Ltd. is outperforming the sector as a whole this year.
Another stock in the Computer and Technology sector, AppFolio (APPF), has outperformed the sector so far this year. The stock's year-to-date return is 75.5%.
The consensus estimate for AppFolio's current year EPS has increased 81.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Nova Ltd. is a member of the Electronics - Semiconductors industry, which includes 41 individual companies and currently sits at #181 in the Zacks Industry Rank. This group has gained an average of 46.6% so far this year, so NVMI is performing better in this area.
In contrast, AppFolio falls under the Internet - Software industry. Currently, this industry has 147 stocks and is ranked #90. Since the beginning of the year, the industry has moved +45.5%.
Nova Ltd. and AppFolio could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.
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