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Are Computer and Technology Stocks Lagging Ciena (CIEN) 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. Ciena (CIEN - 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? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
Ciena is a member of the Computer and Technology sector. This group includes 613 individual stocks and currently holds a Zacks Sector Rank of #2. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Ciena is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for CIEN's full-year earnings has moved 5.9% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that CIEN has returned about 62% since the start of the calendar year. Meanwhile, the Computer and Technology sector has returned an average of 12.1% on a year-to-date basis. This shows that Ciena is outperforming its peers so far this year.
Arista Networks (ANET - 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 29.3%.
Over the past three months, Arista Networks' consensus EPS estimate for the current year has increased 4.1%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Ciena belongs to the Communication - Components industry, a group that includes 13 individual stocks and currently sits at #39 in the Zacks Industry Rank. On average, stocks in this group have gained 77.4% this year, meaning that CIEN is slightly underperforming its industry in terms of year-to-date returns.
Arista Networks, however, belongs to the Internet - Software industry. Currently, this 175-stock industry is ranked #85. The industry has moved -6.2% so far this year.
Investors with an interest in Computer and Technology stocks should continue to track Ciena and Arista Networks. These stocks will be looking to continue their solid performance.
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Are Computer and Technology Stocks Lagging Ciena (CIEN) This Year?
Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Ciena (CIEN - 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? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
Ciena is a member of the Computer and Technology sector. This group includes 613 individual stocks and currently holds a Zacks Sector Rank of #2. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Ciena is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for CIEN's full-year earnings has moved 5.9% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that CIEN has returned about 62% since the start of the calendar year. Meanwhile, the Computer and Technology sector has returned an average of 12.1% on a year-to-date basis. This shows that Ciena is outperforming its peers so far this year.
Arista Networks (ANET - 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 29.3%.
Over the past three months, Arista Networks' consensus EPS estimate for the current year has increased 4.1%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Ciena belongs to the Communication - Components industry, a group that includes 13 individual stocks and currently sits at #39 in the Zacks Industry Rank. On average, stocks in this group have gained 77.4% this year, meaning that CIEN is slightly underperforming its industry in terms of year-to-date returns.
Arista Networks, however, belongs to the Internet - Software industry. Currently, this 175-stock industry is ranked #85. The industry has moved -6.2% so far this year.
Investors with an interest in Computer and Technology stocks should continue to track Ciena and Arista Networks. These stocks will be looking to continue their solid performance.