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Has NetApp (NTAP) Outpaced Other Computer and Technology Stocks This Year?

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Investors focused on the Computer and Technology space have likely heard of NetApp (NTAP - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of NTAP and the rest of the Computer and Technology group's stocks.

NetApp is a member of the Computer and Technology sector. This group includes 625 individual stocks and currently holds a Zacks Sector Rank of #3. 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 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. NTAP is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past 90 days, the Zacks Consensus Estimate for NTAP's full-year earnings has moved 10.45% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the latest available data, NTAP has gained about 50.23% so far this year. At the same time, Computer and Technology stocks have gained an average of 10.33%. As we can see, NetApp is performing better than its sector in the calendar year.

Looking more specifically, NTAP belongs to the Computer- Storage Devices industry, a group that includes 9 individual stocks and currently sits at #54 in the Zacks Industry Rank. Stocks in this group have gained about 7.95% so far this year, so NTAP is performing better this group in terms of year-to-date returns.

NTAP will likely be looking to continue its solid performance, so investors interested Computer and Technology stocks should continue to pay close attention to the company.




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