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Is Allego N.V. (ALLG) Outperforming Other Computer and Technology Stocks This Year?

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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 Allego N.V. (ALLG - Free Report) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.

Allego N.V. is a member of the Computer and Technology sector. This group includes 665 individual stocks and currently holds a Zacks Sector Rank of #9. 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 is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Allego N.V. is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for ALLG's full-year earnings has moved 8.3% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Based on the latest available data, ALLG has gained about 13.4% so far this year. Meanwhile, stocks in the Computer and Technology group have lost about 18% on average. This shows that Allego N.V. is outperforming its peers so far this year.

One other Computer and Technology stock that has outperformed the sector so far this year is Cutera (CUTR - Free Report) . The stock is up 56% year-to-date.

Over the past three months, Cutera's consensus EPS estimate for the current year has increased 18.8%. The stock currently has a Zacks Rank #2 (Buy).

To break things down more, Allego N.V. belongs to the Electronics - Miscellaneous Products industry, a group that includes 28 individual companies and currently sits at #99 in the Zacks Industry Rank. On average, stocks in this group have lost 31% this year, meaning that ALLG is performing better in terms of year-to-date returns.

In contrast, Cutera falls under the Lasers Systems and Components industry. Currently, this industry has 6 stocks and is ranked #104. Since the beginning of the year, the industry has moved -28.7%.

Investors interested in the Computer and Technology sector may want to keep a close eye on Allego N.V. and Cutera as they attempt to continue their solid performance.

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