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 Cadence Design Systems (CDNS) Stock Outpacing Its Computer and Technology Peers This Year?
Read MoreHide Full Article
Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Cadence Design Systems (CDNS - 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? 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.
Cadence Design Systems is a member of the Computer and Technology sector. This group includes 640 individual stocks and currently holds a Zacks Sector Rank of #8. 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 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. Cadence Design Systems is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for CDNS' full-year earnings has moved 0.2% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, CDNS has returned 40.3% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 35.3% on a year-to-date basis. This shows that Cadence Design Systems is outperforming its peers so far this year.
One other Computer and Technology stock that has outperformed the sector so far this year is MicroStrategy (MSTR - Free Report) . The stock is up 132.5% year-to-date.
For MicroStrategy, the consensus EPS estimate for the current year has increased 1323.3% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Cadence Design Systems belongs to the Computer - Software industry, which includes 39 individual stocks and currently sits at #94 in the Zacks Industry Rank. On average, stocks in this group have gained 38.6% this year, meaning that CDNS is performing better in terms of year-to-date returns. MicroStrategy is also part of the same industry.
Investors interested in the Computer and Technology sector may want to keep a close eye on Cadence Design Systems and MicroStrategy as they attempt to continue their solid performance.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Is Cadence Design Systems (CDNS) Stock Outpacing Its Computer and Technology Peers This Year?
Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Cadence Design Systems (CDNS - 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? 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.
Cadence Design Systems is a member of the Computer and Technology sector. This group includes 640 individual stocks and currently holds a Zacks Sector Rank of #8. 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 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. Cadence Design Systems is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for CDNS' full-year earnings has moved 0.2% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, CDNS has returned 40.3% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 35.3% on a year-to-date basis. This shows that Cadence Design Systems is outperforming its peers so far this year.
One other Computer and Technology stock that has outperformed the sector so far this year is MicroStrategy (MSTR - Free Report) . The stock is up 132.5% year-to-date.
For MicroStrategy, the consensus EPS estimate for the current year has increased 1323.3% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Cadence Design Systems belongs to the Computer - Software industry, which includes 39 individual stocks and currently sits at #94 in the Zacks Industry Rank. On average, stocks in this group have gained 38.6% this year, meaning that CDNS is performing better in terms of year-to-date returns. MicroStrategy is also part of the same industry.
Investors interested in the Computer and Technology sector may want to keep a close eye on Cadence Design Systems and MicroStrategy as they attempt to continue their solid performance.