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Has Momo (MOMO) Outpaced Other Computer and Technology Stocks This Year?

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Investors focused on the Computer and Technology space have likely heard of Momo (MOMO - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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.

Momo is one of 630 companies in the Computer and Technology group. The Computer and Technology group currently sits at #6 within 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 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. MOMO is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past 90 days, the Zacks Consensus Estimate for MOMO's full-year earnings has moved 19.30% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the most recent data, MOMO has returned 85.21% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 6.01% on average. This means that Momo is performing better than its sector in terms of year-to-date returns.

Looking more specifically, MOMO belongs to the Internet - Software and Services industry, which includes 21 individual stocks and currently sits at #108 in the Zacks Industry Rank. On average, stocks in this group have lost 0.09% this year, meaning that MOMO is performing better in terms of year-to-date returns.

Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to MOMO as it looks to continue its solid performance.




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