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Are Computer and Technology Stocks Lagging Arlo Technologies (ARLO) 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 Arlo Technologies (ARLO - 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.
Arlo Technologies is one of 622 companies in the Computer and Technology group. The Computer and Technology group currently sits at #6 within the Zacks Sector Rank. 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Arlo Technologies is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ARLO's full-year earnings has moved 18.3% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, ARLO has returned 170.4% so far this year. In comparison, Computer and Technology companies have returned an average of 53.9%. This means that Arlo Technologies is performing better than its sector in terms of year-to-date returns.
One other Computer and Technology stock that has outperformed the sector so far this year is Cadence Design Systems (CDNS - Free Report) . The stock is up 71.2% year-to-date.
In Cadence Design Systems' case, the consensus EPS estimate for the current year increased 0.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Arlo Technologies belongs to the Internet - Software industry, which includes 147 individual stocks and currently sits at #37 in the Zacks Industry Rank. Stocks in this group have gained about 72.6% so far this year, so ARLO is performing better this group in terms of year-to-date returns.
Cadence Design Systems, however, belongs to the Computer - Software industry. Currently, this 36-stock industry is ranked #89. The industry has moved +56.6% so far this year.
Investors interested in the Computer and Technology sector may want to keep a close eye on Arlo Technologies and Cadence Design Systems as they attempt to continue their solid performance.
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Are Computer and Technology Stocks Lagging Arlo Technologies (ARLO) This Year?
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 Arlo Technologies (ARLO - 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.
Arlo Technologies is one of 622 companies in the Computer and Technology group. The Computer and Technology group currently sits at #6 within the Zacks Sector Rank. 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Arlo Technologies is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ARLO's full-year earnings has moved 18.3% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, ARLO has returned 170.4% so far this year. In comparison, Computer and Technology companies have returned an average of 53.9%. This means that Arlo Technologies is performing better than its sector in terms of year-to-date returns.
One other Computer and Technology stock that has outperformed the sector so far this year is Cadence Design Systems (CDNS - Free Report) . The stock is up 71.2% year-to-date.
In Cadence Design Systems' case, the consensus EPS estimate for the current year increased 0.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Arlo Technologies belongs to the Internet - Software industry, which includes 147 individual stocks and currently sits at #37 in the Zacks Industry Rank. Stocks in this group have gained about 72.6% so far this year, so ARLO is performing better this group in terms of year-to-date returns.
Cadence Design Systems, however, belongs to the Computer - Software industry. Currently, this 36-stock industry is ranked #89. The industry has moved +56.6% so far this year.
Investors interested in the Computer and Technology sector may want to keep a close eye on Arlo Technologies and Cadence Design Systems as they attempt to continue their solid performance.