Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Is Ubiquiti Networks (UBNT) 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.
Ubiquiti Networks is one of 642 companies in the Computer and Technology group. The Computer and Technology group currently sits at #5 within 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 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. UBNT is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for UBNT's full-year earnings has moved 8.40% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, UBNT has returned 61.62% so far this year. At the same time, Computer and Technology stocks have gained an average of 20.24%. This means that Ubiquiti Networks is outperforming the sector as a whole this year.
Looking more specifically, UBNT belongs to the Wireless Equipment industry, which includes 14 individual stocks and currently sits at #92 in the Zacks Industry Rank. On average, stocks in this group have gained 9.68% this year, meaning that UBNT is performing better in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on UBNT as it attempts to continue its solid performance.
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