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Is Synopsys (SNPS) Outperforming Other Computer and Technology Stocks 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. Synopsys (SNPS - 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 SNPS and the rest of the Computer and Technology group's stocks.
Synopsys is a member of the Computer and Technology sector. This group includes 616 individual stocks and currently holds a Zacks Sector Rank of #7. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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 #2 (Buy).
The Zacks Consensus Estimate for SNPS's full-year earnings has moved 3.72% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, SNPS has returned 70.17% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 38.12% on average. This means that Synopsys is performing better than its sector in terms of year-to-date returns.
Looking more specifically, SNPS belongs to the Computer - Software industry, a group that includes 41 individual stocks and currently sits at #172 in the Zacks Industry Rank. On average, stocks in this group have gained 32.95% this year, meaning that SNPS is performing better in terms of year-to-date returns.
SNPS will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company.
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Is Synopsys (SNPS) Outperforming Other Computer and Technology Stocks 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. Synopsys (SNPS - 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 SNPS and the rest of the Computer and Technology group's stocks.
Synopsys is a member of the Computer and Technology sector. This group includes 616 individual stocks and currently holds a Zacks Sector Rank of #7. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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 #2 (Buy).
The Zacks Consensus Estimate for SNPS's full-year earnings has moved 3.72% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, SNPS has returned 70.17% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 38.12% on average. This means that Synopsys is performing better than its sector in terms of year-to-date returns.
Looking more specifically, SNPS belongs to the Computer - Software industry, a group that includes 41 individual stocks and currently sits at #172 in the Zacks Industry Rank. On average, stocks in this group have gained 32.95% this year, meaning that SNPS is performing better in terms of year-to-date returns.
SNPS will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company.