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 NetApp (NTAP - 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.
NetApp is one of 626 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #3 in the Zacks Sector Rank. 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 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. NTAP is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for NTAP's full-year earnings has moved 12.69% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that NTAP has returned about 48.05% since the start of the calendar year. At the same time, Computer and Technology stocks have gained an average of 10.07%. This shows that NetApp is outperforming its peers so far this year.
Breaking things down more, NTAP is a member of the Computer- Storage Devices industry, which includes 9 individual companies and currently sits at #37 in the Zacks Industry Rank. On average, this group has gained an average of 11.15% so far this year, meaning that NTAP is performing better in terms of year-to-date returns.
NTAP will likely be looking to continue its solid performance, so investors interested Computer and Technology stocks should continue to pay close attention to the company.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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 NetApp (NTAP - 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.
NetApp is one of 626 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #3 in the Zacks Sector Rank. 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 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. NTAP is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for NTAP's full-year earnings has moved 12.69% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that NTAP has returned about 48.05% since the start of the calendar year. At the same time, Computer and Technology stocks have gained an average of 10.07%. This shows that NetApp is outperforming its peers so far this year.
Breaking things down more, NTAP is a member of the Computer- Storage Devices industry, which includes 9 individual companies and currently sits at #37 in the Zacks Industry Rank. On average, this group has gained an average of 11.15% so far this year, meaning that NTAP is performing better in terms of year-to-date returns.
NTAP will likely be looking to continue its solid performance, so investors interested Computer and Technology stocks should continue to pay close attention to the company.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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