We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Is ServiceNow (NOW) Outperforming Other Computer and Technology Stocks This Year?
Read MoreHide Full Article
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. 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? One simple way to answer this question is to take a look at the year-to-date performance of NOW and the rest of the Computer and Technology group's stocks.
ServiceNow is a member of our Computer and Technology group, which includes 637 different companies and currently sits at #7 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 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).
Within the past quarter, the Zacks Consensus Estimate for NOW's full-year earnings has moved 38.93% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, NOW has returned 47.49% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 12.28% on average. As we can see, ServiceNow is performing better than its sector in the calendar year.
To break things down more, NOW belongs to the Computers - IT Services industry, a group that includes 28 individual companies and currently sits at #82 in the Zacks Industry Rank. On average, stocks in this group have gained 21.73% this year, meaning that NOW 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 NOW as it attempts to continue its solid performance.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Is ServiceNow (NOW) Outperforming Other Computer and Technology Stocks 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. 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? One simple way to answer this question is to take a look at the year-to-date performance of NOW and the rest of the Computer and Technology group's stocks.
ServiceNow is a member of our Computer and Technology group, which includes 637 different companies and currently sits at #7 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 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).
Within the past quarter, the Zacks Consensus Estimate for NOW's full-year earnings has moved 38.93% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, NOW has returned 47.49% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 12.28% on average. As we can see, ServiceNow is performing better than its sector in the calendar year.
To break things down more, NOW belongs to the Computers - IT Services industry, a group that includes 28 individual companies and currently sits at #82 in the Zacks Industry Rank. On average, stocks in this group have gained 21.73% this year, meaning that NOW 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 NOW as it attempts to continue its solid performance.