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Is SYNNEX (SNX) Stock Outpacing Its Computer and Technology Peers 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? 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 a member of the Computer and Technology sector. This group includes 640 individual stocks and currently holds a Zacks Sector Rank of #6. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

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).

Over the past 90 days, the Zacks Consensus Estimate for SNX's full-year earnings has moved 1.74% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Based on the most recent data, SNX has returned 26.20% so far this year. At the same time, Computer and Technology stocks have gained an average of 21.65%. 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, a group that includes 11 individual stocks and currently sits at #89 in the Zacks Industry Rank. This group has gained an average of 18.06% so far this year, so SNX is performing better in this area.

SNX will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company.


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