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Is SYNNEX (SNX) Stock Outpacing Its Computer and Technology Peers This Year?

Zacks Equity Research

Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Has SYNNEX (SNX) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.

SYNNEX is one of 642 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 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 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. SNX is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for SNX's full-year earnings has moved 1.91% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Our latest available data shows that SNX has returned about 18% since the start of the calendar year. Meanwhile, the Computer and Technology sector has returned an average of 17.20% on a year-to-date basis. This means that SYNNEX is performing better than its sector in terms of year-to-date returns.

Looking more specifically, SNX belongs to the Business - Software Services industry, which includes 11 individual stocks and currently sits at #43 in the Zacks Industry Rank. On average, this group has gained an average of 16.14% so far this year, meaning that SNX is performing better 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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