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 Momo (MOMO - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Momo is a member of our Computer and Technology group, which includes 632 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 proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. MOMO is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for MOMO's full-year earnings has moved 7.09% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, MOMO has returned 61.19% so far this year. In comparison, Computer and Technology companies have returned an average of 5.91%. This means that Momo is outperforming the sector as a whole this year.
Looking more specifically, MOMO belongs to the Internet - Software and Services industry, which includes 21 individual stocks and currently sits at #79 in the Zacks Industry Rank. This group has lost an average of 4.08% so far this year, so MOMO is performing better in this area.
Investors with an interest in Computer and Technology stocks should continue to track MOMO. The stock will be looking to continue its solid performance.