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Is Cognex (CGNX) Outperforming Other Computer and Technology Stocks This Year?
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The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Cognex Corporation (CGNX - 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? 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.
Cognex Corporation is one of 620 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #4 in the Zacks Sector Rank. 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 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. Cognex Corporation is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for CGNX's full-year earnings has moved 13.5% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, CGNX has gained about 78.9% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 25.6% on a year-to-date basis. This means that Cognex Corporation is outperforming the sector as a whole this year.
Another stock in the Computer and Technology sector, JFrog Ltd. (FROG - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 56.7%.
In JFrog Ltd.'s case, the consensus EPS estimate for the current year increased 26% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Cognex Corporation belongs to the Electronics - Testing Equipment industry, a group that includes 4 individual stocks and currently sits at #10 in the Zacks Industry Rank. On average, this group has gained an average of 22.6% so far this year, meaning that CGNX is performing better in terms of year-to-date returns.
In contrast, JFrog Ltd. falls under the Internet - Software industry. Currently, this industry has 178 stocks and is ranked #107. Since the beginning of the year, the industry has moved +8.6%.
Investors interested in the Computer and Technology sector may want to keep a close eye on Cognex Corporation and JFrog Ltd. as they attempt to continue their solid performance.
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Is Cognex (CGNX) Outperforming Other Computer and Technology Stocks This Year?
The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Cognex Corporation (CGNX - 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? 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.
Cognex Corporation is one of 620 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #4 in the Zacks Sector Rank. 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 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. Cognex Corporation is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for CGNX's full-year earnings has moved 13.5% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, CGNX has gained about 78.9% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 25.6% on a year-to-date basis. This means that Cognex Corporation is outperforming the sector as a whole this year.
Another stock in the Computer and Technology sector, JFrog Ltd. (FROG - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 56.7%.
In JFrog Ltd.'s case, the consensus EPS estimate for the current year increased 26% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Cognex Corporation belongs to the Electronics - Testing Equipment industry, a group that includes 4 individual stocks and currently sits at #10 in the Zacks Industry Rank. On average, this group has gained an average of 22.6% so far this year, meaning that CGNX is performing better in terms of year-to-date returns.
In contrast, JFrog Ltd. falls under the Internet - Software industry. Currently, this industry has 178 stocks and is ranked #107. Since the beginning of the year, the industry has moved +8.6%.
Investors interested in the Computer and Technology sector may want to keep a close eye on Cognex Corporation and JFrog Ltd. as they attempt to continue their solid performance.