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 Magnite (MGNI) 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. Is Magnite (MGNI - 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.
Magnite is a member of our Computer and Technology group, which includes 622 different companies and currently sits at #6 in the Zacks Sector Rank. 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 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. Magnite is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for MGNI's full-year earnings has moved 127.3% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, MGNI has gained about 24.4% so far this year. At the same time, Computer and Technology stocks have gained an average of 9.7%. This shows that Magnite is outperforming its peers so far this year.
Another stock in the Computer and Technology sector, Nova Ltd. (NVMI - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 34.1%.
The consensus estimate for Nova Ltd.'s current year EPS has increased 1.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Magnite is a member of the Internet - Software industry, which includes 145 individual companies and currently sits at #46 in the Zacks Industry Rank. On average, this group has gained an average of 17.9% so far this year, meaning that MGNI is performing better in terms of year-to-date returns.
Nova Ltd. however, belongs to the Electronics - Semiconductors industry. Currently, this 41-stock industry is ranked #200. The industry has moved +23.3% so far this year.
Magnite and Nova Ltd. could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Is Magnite (MGNI) 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. Is Magnite (MGNI - 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.
Magnite is a member of our Computer and Technology group, which includes 622 different companies and currently sits at #6 in the Zacks Sector Rank. 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 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. Magnite is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for MGNI's full-year earnings has moved 127.3% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, MGNI has gained about 24.4% so far this year. At the same time, Computer and Technology stocks have gained an average of 9.7%. This shows that Magnite is outperforming its peers so far this year.
Another stock in the Computer and Technology sector, Nova Ltd. (NVMI - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 34.1%.
The consensus estimate for Nova Ltd.'s current year EPS has increased 1.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Magnite is a member of the Internet - Software industry, which includes 145 individual companies and currently sits at #46 in the Zacks Industry Rank. On average, this group has gained an average of 17.9% so far this year, meaning that MGNI is performing better in terms of year-to-date returns.
Nova Ltd. however, belongs to the Electronics - Semiconductors industry. Currently, this 41-stock industry is ranked #200. The industry has moved +23.3% so far this year.
Magnite and Nova Ltd. could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.