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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. Is Synopsys (SNPS - 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.
Synopsys is a member of the Computer and Technology sector. This group includes 629 individual stocks and currently holds a Zacks Sector Rank of #5. 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 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. Synopsys is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for SNPS' full-year earnings has moved 4.7% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, SNPS has moved about 53.4% on a year-to-date basis. In comparison, Computer and Technology companies have returned an average of 36.9%. This shows that Synopsys is outperforming its peers so far this year.
One other Computer and Technology stock that has outperformed the sector so far this year is Splunk . The stock is up 71.8% year-to-date.
In Splunk's case, the consensus EPS estimate for the current year increased 337.7% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Synopsys is a member of the Computer - Software industry, which includes 38 individual companies and currently sits at #107 in the Zacks Industry Rank. On average, this group has gained an average of 37.7% so far this year, meaning that SNPS is performing better in terms of year-to-date returns.
On the other hand, Splunk belongs to the Internet - Software industry. This 148-stock industry is currently ranked #69. The industry has moved +48.1% year to date.
Investors with an interest in Computer and Technology stocks should continue to track Synopsys and Splunk. These stocks will be looking to continue their solid performance.
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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. Is Synopsys (SNPS - 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.
Synopsys is a member of the Computer and Technology sector. This group includes 629 individual stocks and currently holds a Zacks Sector Rank of #5. 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 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. Synopsys is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for SNPS' full-year earnings has moved 4.7% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, SNPS has moved about 53.4% on a year-to-date basis. In comparison, Computer and Technology companies have returned an average of 36.9%. This shows that Synopsys is outperforming its peers so far this year.
One other Computer and Technology stock that has outperformed the sector so far this year is Splunk . The stock is up 71.8% year-to-date.
In Splunk's case, the consensus EPS estimate for the current year increased 337.7% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Synopsys is a member of the Computer - Software industry, which includes 38 individual companies and currently sits at #107 in the Zacks Industry Rank. On average, this group has gained an average of 37.7% so far this year, meaning that SNPS is performing better in terms of year-to-date returns.
On the other hand, Splunk belongs to the Internet - Software industry. This 148-stock industry is currently ranked #69. The industry has moved +48.1% year to date.
Investors with an interest in Computer and Technology stocks should continue to track Synopsys and Splunk. These stocks will be looking to continue their solid performance.