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 629 companies in the Computer and Technology group. The Computer and Technology group currently sits at #5 within 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 is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. NVDA is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for NVDA's full-year earnings has moved 5.62% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, NVDA has gained about 55.80% so far this year. At the same time, Computer and Technology stocks have gained an average of 29.33%. This shows that NVIDIA is outperforming its peers so far this year.
Looking more specifically, NVDA belongs to the Semiconductor - General industry, a group that includes 8 individual stocks and currently sits at #50 in the Zacks Industry Rank. This group has gained an average of 35.16% so far this year, so NVDA is performing better in this area.
Investors in the Computer and Technology sector will want to keep a close eye on NVDA as it attempts to continue its solid performance.