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Has ServiceNow (NOW) Outpaced Other Computer and Technology Stocks This Year?
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Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. ServiceNow (NOW - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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.
ServiceNow is one of 641 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #6 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. NOW is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for NOW's full-year earnings has moved 12.25% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that NOW has returned about 52.49% since the start of the calendar year. In comparison, Computer and Technology companies have returned an average of 23.04%. This shows that ServiceNow is outperforming its peers so far this year.
Looking more specifically, NOW belongs to the Computers - IT Services industry, a group that includes 28 individual stocks and currently sits at #40 in the Zacks Industry Rank. This group has gained an average of 31.89% so far this year, so NOW is performing better in this area.
Investors with an interest in Computer and Technology stocks should continue to track NOW. The stock will be looking to continue its solid performance.
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Has ServiceNow (NOW) Outpaced Other Computer and Technology Stocks This Year?
Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. ServiceNow (NOW - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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.
ServiceNow is one of 641 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #6 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. NOW is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for NOW's full-year earnings has moved 12.25% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that NOW has returned about 52.49% since the start of the calendar year. In comparison, Computer and Technology companies have returned an average of 23.04%. This shows that ServiceNow is outperforming its peers so far this year.
Looking more specifically, NOW belongs to the Computers - IT Services industry, a group that includes 28 individual stocks and currently sits at #40 in the Zacks Industry Rank. This group has gained an average of 31.89% so far this year, so NOW is performing better in this area.
Investors with an interest in Computer and Technology stocks should continue to track NOW. The stock will be looking to continue its solid performance.