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Is Synopsys (SNPS) Stock Outpacing Its Computer and Technology Peers This Year?
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For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Synopsys (SNPS - 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.
Synopsys is a member of our Computer and Technology group, which includes 647 different companies and currently sits at #3 in the Zacks Sector Rank. 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 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. SNPS is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for SNPS's full-year earnings has moved 4.85% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, SNPS has gained about 5.59% so far this year. At the same time, Computer and Technology stocks have gained an average of 4.25%. As we can see, Synopsys is performing better than its sector in the calendar year.
To break things down more, SNPS belongs to the Computer - Software industry, a group that includes 49 individual companies and currently sits at #59 in the Zacks Industry Rank. On average, stocks in this group have gained 4.88% this year, meaning that SNPS 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 SNPS as it attempts to continue its solid performance.
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Is Synopsys (SNPS) Stock Outpacing Its Computer and Technology Peers This Year?
For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Synopsys (SNPS - 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.
Synopsys is a member of our Computer and Technology group, which includes 647 different companies and currently sits at #3 in the Zacks Sector Rank. 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 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. SNPS is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for SNPS's full-year earnings has moved 4.85% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, SNPS has gained about 5.59% so far this year. At the same time, Computer and Technology stocks have gained an average of 4.25%. As we can see, Synopsys is performing better than its sector in the calendar year.
To break things down more, SNPS belongs to the Computer - Software industry, a group that includes 49 individual companies and currently sits at #59 in the Zacks Industry Rank. On average, stocks in this group have gained 4.88% this year, meaning that SNPS 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 SNPS as it attempts to continue its solid performance.