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Are Computer and Technology Stocks Lagging Lyft (LYFT) 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. Lyft (LYFT - 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? Let's take a closer look at the stock's year-to-date performance to find out.
Lyft is one of 603 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #1 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 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. Lyft is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for LYFT's full-year earnings has moved 19.8% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, LYFT has gained about 73.1% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 27.8% on a year-to-date basis. This means that Lyft 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 Digi International (DGII - Free Report) . The stock is up 42% year-to-date.
The consensus estimate for Digi International's current year EPS has increased 9.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Lyft is a member of the Internet - Services industry, which includes 35 individual companies and currently sits at #89 in the Zacks Industry Rank. This group has gained an average of 64.9% so far this year, so LYFT is performing better in this area.
In contrast, Digi International falls under the Computer - Networking industry. Currently, this industry has 8 stocks and is ranked #41. Since the beginning of the year, the industry has moved +30.8%.
Investors with an interest in Computer and Technology stocks should continue to track Lyft and Digi International. These stocks will be looking to continue their solid performance.
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Are Computer and Technology Stocks Lagging Lyft (LYFT) This Year?
Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Lyft (LYFT - 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? Let's take a closer look at the stock's year-to-date performance to find out.
Lyft is one of 603 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #1 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 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. Lyft is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for LYFT's full-year earnings has moved 19.8% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, LYFT has gained about 73.1% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 27.8% on a year-to-date basis. This means that Lyft 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 Digi International (DGII - Free Report) . The stock is up 42% year-to-date.
The consensus estimate for Digi International's current year EPS has increased 9.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Lyft is a member of the Internet - Services industry, which includes 35 individual companies and currently sits at #89 in the Zacks Industry Rank. This group has gained an average of 64.9% so far this year, so LYFT is performing better in this area.
In contrast, Digi International falls under the Computer - Networking industry. Currently, this industry has 8 stocks and is ranked #41. Since the beginning of the year, the industry has moved +30.8%.
Investors with an interest in Computer and Technology stocks should continue to track Lyft and Digi International. These stocks will be looking to continue their solid performance.