The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is SYNNEX (SNX) one of those stocks right now? 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.
SYNNEX is a member of our Computer and Technology group, which includes 632 different companies and currently sits at #5 in 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).
Over the past three months, the Zacks Consensus Estimate for SNX's full-year earnings has moved 4.19% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that SNX has returned about 41.55% since the start of the calendar year. Meanwhile, the Computer and Technology sector has returned an average of 23.63% on a year-to-date basis. This shows that SYNNEX is outperforming its peers so far this year.
Breaking things down more, SNX is a member of the Business - Software Services industry, which includes 11 individual companies and currently sits at #171 in the Zacks Industry Rank. On average, stocks in this group have gained 14.24% this year, meaning that SNX is performing better in terms of year-to-date returns.
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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