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? 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.
NetApp is a member of the Computer and Technology sector. This group includes 623 individual stocks and currently holds a Zacks Sector Rank of #3. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. NTAP is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for NTAP's full-year earnings has moved 10.45% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, NTAP has moved about 55.80% on a year-to-date basis. In comparison, Computer and Technology companies have returned an average of 12.44%. This means that NetApp is performing better than its sector in terms of year-to-date returns.
To break things down more, NTAP belongs to the Computer- Storage Devices industry, a group that includes 9 individual companies and currently sits at #32 in the Zacks Industry Rank. On average, stocks in this group have gained 9.48% this year, meaning that NTAP 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 NTAP as it looks to continue its solid performance.