Has Snap (SNAP) Outpaced Other Computer and Technology Stocks This Year?
Investors focused on the Computer and Technology space have likely heard of Snap (SNAP), but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
Snap is one of 630 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #15 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. SNAP is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for SNAP's full-year earnings has moved 1.32% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, SNAP has returned 55.72% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 21.14% on a year-to-date basis. This shows that Snap is outperforming its peers so far this year.
Looking more specifically, SNAP belongs to the Internet - Software industry, which includes 122 individual stocks and currently sits at #212 in the Zacks Industry Rank. Stocks in this group have gained about 0.14% so far this year, so SNAP is performing better this group in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track SNAP. The stock will be looking to continue its solid performance.
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