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Has Snap (SNAP) Outpaced 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. Is Snap (SNAP - Free Report) one of those stocks right now? 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.
Snap is a member of the Computer and Technology sector. This group includes 632 individual stocks and currently holds a Zacks Sector Rank of #6. 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. SNAP is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for SNAP's full-year earnings has moved 13.56% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that SNAP has returned about 4.73% since the start of the calendar year. At the same time, Computer and Technology stocks have gained an average of 1.24%. This means that Snap is performing better than its sector in terms of year-to-date returns.
Looking more specifically, SNAP belongs to the Internet - Software industry, which includes 104 individual stocks and currently sits at #187 in the Zacks Industry Rank. On average, stocks in this group have gained 0.76% this year, meaning that SNAP is performing better in terms of year-to-date returns.
SNAP 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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Has Snap (SNAP) Outpaced 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. Is Snap (SNAP - Free Report) one of those stocks right now? 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.
Snap is a member of the Computer and Technology sector. This group includes 632 individual stocks and currently holds a Zacks Sector Rank of #6. 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. SNAP is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for SNAP's full-year earnings has moved 13.56% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that SNAP has returned about 4.73% since the start of the calendar year. At the same time, Computer and Technology stocks have gained an average of 1.24%. This means that Snap is performing better than its sector in terms of year-to-date returns.
Looking more specifically, SNAP belongs to the Internet - Software industry, which includes 104 individual stocks and currently sits at #187 in the Zacks Industry Rank. On average, stocks in this group have gained 0.76% this year, meaning that SNAP is performing better in terms of year-to-date returns.
SNAP 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.