We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
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 Chegg (CHGG) Stock Outpacing Its Computer and Technology Peers This Year?
Read MoreHide Full Article
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. Has Chegg (CHGG - Free Report) been one of those stocks this year? 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.
Chegg is one of 592 companies in the Computer and Technology group. The Computer and Technology group currently sits at #1 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 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. Chegg is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for CHGG's full-year earnings has moved 29% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, CHGG has gained about 20.4% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 17.2% on average. This means that Chegg is outperforming the sector as a whole this year.
Flex (FLEX - Free Report) is another Computer and Technology stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 149.6%.
In Flex's case, the consensus EPS estimate for the current year increased 26.5% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Chegg belongs to the Internet - Software industry, a group that includes 170 individual stocks and currently sits at #83 in the Zacks Industry Rank. This group has lost an average of 11.5% so far this year, so CHGG is performing better in this area.
On the other hand, Flex belongs to the Electronics - Miscellaneous Products industry. This 33-stock industry is currently ranked #62. The industry has moved +52.9% year to date.
Investors with an interest in Computer and Technology stocks should continue to track Chegg and Flex. These stocks will be looking to continue their solid performance.
Zacks' 7 Best Strong Buy Stocks (New Research Report)
Valued at $99, click below to receive our just-released report
predicting the 7 stocks that will soar highest in the coming month.
View the Zacks #1 Rank List
Image: Bigstock
Is Chegg (CHGG) Stock Outpacing Its Computer and Technology Peers 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. Has Chegg (CHGG - Free Report) been one of those stocks this year? 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.
Chegg is one of 592 companies in the Computer and Technology group. The Computer and Technology group currently sits at #1 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 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. Chegg is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for CHGG's full-year earnings has moved 29% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, CHGG has gained about 20.4% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 17.2% on average. This means that Chegg is outperforming the sector as a whole this year.
Flex (FLEX - Free Report) is another Computer and Technology stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 149.6%.
In Flex's case, the consensus EPS estimate for the current year increased 26.5% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Chegg belongs to the Internet - Software industry, a group that includes 170 individual stocks and currently sits at #83 in the Zacks Industry Rank. This group has lost an average of 11.5% so far this year, so CHGG is performing better in this area.
On the other hand, Flex belongs to the Electronics - Miscellaneous Products industry. This 33-stock industry is currently ranked #62. The industry has moved +52.9% year to date.
Investors with an interest in Computer and Technology stocks should continue to track Chegg and Flex. These stocks will be looking to continue their solid performance.