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Investors focused on the Computer and Technology space have likely heard of NVIDIA (NVDA), 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.
NVIDIA is one of 619 companies in the Computer and Technology group. The Computer and Technology group currently sits at #13 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. NVDA is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for NVDA's full-year earnings has moved 25.95% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that NVDA has returned about 42.91% since the start of the calendar year. In comparison, Computer and Technology companies have returned an average of 16.43%. As we can see, NVIDIA is performing better than its sector in the calendar year.
Looking more specifically, NVDA belongs to the Semiconductor - General industry, which includes 8 individual stocks and currently sits at #113 in the Zacks Industry Rank. Stocks in this group have gained about 28.23% so far this year, so NVDA is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to NVDA as it looks to continue its solid performance.
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