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Is Synopsys (SNPS) Stock Outpacing Its Computer and Technology Peers 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 Synopsys (SNPS - Free Report) 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.
Synopsys is a member of the Computer and Technology sector. This group includes 645 individual stocks and currently holds a Zacks Sector Rank of #4. 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 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. SNPS is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for SNPS's full-year earnings has moved 4.85% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that SNPS has returned about 19.49% since the start of the calendar year. At the same time, Computer and Technology stocks have gained an average of 11.42%. This shows that Synopsys is outperforming its peers so far this year.
Breaking things down more, SNPS is a member of the Computer - Software industry, which includes 49 individual companies and currently sits at #41 in the Zacks Industry Rank. Stocks in this group have gained about 10% so far this year, so SNPS is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to SNPS as it looks to continue its solid performance.
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Is Synopsys (SNPS) Stock Outpacing Its Computer and Technology Peers 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 Synopsys (SNPS - Free Report) 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.
Synopsys is a member of the Computer and Technology sector. This group includes 645 individual stocks and currently holds a Zacks Sector Rank of #4. 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 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. SNPS is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for SNPS's full-year earnings has moved 4.85% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that SNPS has returned about 19.49% since the start of the calendar year. At the same time, Computer and Technology stocks have gained an average of 11.42%. This shows that Synopsys is outperforming its peers so far this year.
Breaking things down more, SNPS is a member of the Computer - Software industry, which includes 49 individual companies and currently sits at #41 in the Zacks Industry Rank. Stocks in this group have gained about 10% so far this year, so SNPS is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to SNPS as it looks to continue its solid performance.