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Is NetApp (NTAP) Outperforming Other Computer and Technology Stocks This Year?
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The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is NetApp (NTAP - Free Report) one of those stocks right now? 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.
NetApp is a member of the Computer and Technology sector. This group includes 627 individual stocks and currently holds a Zacks Sector Rank of #4. 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. NTAP is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for NTAP's full-year earnings has moved 5.95% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, NTAP has returned 48.64% so far this year. At the same time, Computer and Technology stocks have gained an average of 10.33%. As we can see, NetApp is performing better than its sector in the calendar year.
Looking more specifically, NTAP belongs to the Computer- Storage Devices industry, which includes 9 individual stocks and currently sits at #82 in the Zacks Industry Rank. On average, this group has gained an average of 21.71% so far this year, meaning that NTAP 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 NTAP as it attempts to continue its solid performance.
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Is NetApp (NTAP) Outperforming Other Computer and Technology Stocks This Year?
The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is NetApp (NTAP - Free Report) one of those stocks right now? 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.
NetApp is a member of the Computer and Technology sector. This group includes 627 individual stocks and currently holds a Zacks Sector Rank of #4. 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. NTAP is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for NTAP's full-year earnings has moved 5.95% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, NTAP has returned 48.64% so far this year. At the same time, Computer and Technology stocks have gained an average of 10.33%. As we can see, NetApp is performing better than its sector in the calendar year.
Looking more specifically, NTAP belongs to the Computer- Storage Devices industry, which includes 9 individual stocks and currently sits at #82 in the Zacks Industry Rank. On average, this group has gained an average of 21.71% so far this year, meaning that NTAP 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 NTAP as it attempts to continue its solid performance.