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Has SYNNEX (SNX) Outpaced Other Computer and Technology Stocks This Year?

Zacks Equity Research

Investors focused on the Computer and Technology space have likely heard of SYNNEX (SNX), 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.

SYNNEX is one of 637 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #7 in 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 proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. SNX is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for SNX's full-year earnings has moved 1.60% 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, SNX has returned 2.59% so far this year. In comparison, Computer and Technology companies have returned an average of 18%. As we can see, SYNNEX is performing better than its sector in the calendar year.

To break things down more, SNX belongs to the Business - Software Services industry, a group that includes 11 individual companies and currently sits at #97 in the Zacks Industry Rank. On average, this group has gained an average of 11.33% so far this year, meaning that SNX is slightly underperforming its industry in terms of year-to-date returns.

Investors with an interest in Computer and Technology stocks should continue to track SNX. The stock will be looking to continue its solid performance.


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