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Is Cadence Design Systems (CDNS) Stock Outpacing Its Computer and Technology Peers This Year?
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Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Is Cadence Design Systems (CDNS - 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.
Cadence Design Systems is a member of our Computer and Technology group, which includes 622 different companies and currently sits at #5 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 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. Cadence Design Systems is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for CDNS' full-year earnings has moved 5.5% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, CDNS has gained about 14.3% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 12.2% on average. As we can see, Cadence Design Systems is performing better than its sector in the calendar year.
Another Computer and Technology stock, which has outperformed the sector so far this year, is AudioEye (AEYE - Free Report) . The stock has returned 58.5% year-to-date.
Over the past three months, AudioEye's consensus EPS estimate for the current year has increased 104.8%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Cadence Design Systems is a member of the Computer - Software industry, which includes 36 individual companies and currently sits at #48 in the Zacks Industry Rank. On average, this group has gained an average of 11.5% so far this year, meaning that CDNS is performing better in terms of year-to-date returns.
On the other hand, AudioEye belongs to the Internet - Software industry. This 145-stock industry is currently ranked #47. The industry has moved +19.2% year to date.
Investors interested in the Computer and Technology sector may want to keep a close eye on Cadence Design Systems and AudioEye as they attempt to continue their solid performance.
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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. Is Cadence Design Systems (CDNS - 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.
Cadence Design Systems is a member of our Computer and Technology group, which includes 622 different companies and currently sits at #5 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 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. Cadence Design Systems is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for CDNS' full-year earnings has moved 5.5% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, CDNS has gained about 14.3% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 12.2% on average. As we can see, Cadence Design Systems is performing better than its sector in the calendar year.
Another Computer and Technology stock, which has outperformed the sector so far this year, is AudioEye (AEYE - Free Report) . The stock has returned 58.5% year-to-date.
Over the past three months, AudioEye's consensus EPS estimate for the current year has increased 104.8%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Cadence Design Systems is a member of the Computer - Software industry, which includes 36 individual companies and currently sits at #48 in the Zacks Industry Rank. On average, this group has gained an average of 11.5% so far this year, meaning that CDNS is performing better in terms of year-to-date returns.
On the other hand, AudioEye belongs to the Internet - Software industry. This 145-stock industry is currently ranked #47. The industry has moved +19.2% year to date.
Investors interested in the Computer and Technology sector may want to keep a close eye on Cadence Design Systems and AudioEye as they attempt to continue their solid performance.