The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. NetApp (NTAP - 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? 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 our Computer and Technology group, which includes 596 different companies and currently sits at #5 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. NTAP is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for NTAP's full-year earnings has moved 10.16% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, NTAP has moved about 33.69% on a year-to-date basis. Meanwhile, stocks in the Computer and Technology group have gained about 2.57% on average. This means that NetApp is performing better than its sector in terms of year-to-date returns.
Breaking things down more, NTAP is a member of the Computer- Storage Devices industry, which includes 7 individual companies and currently sits at #52 in the Zacks Industry Rank. This group has lost an average of 1.49% so far this year, so NTAP is performing better in this area.
Investors in the Computer and Technology sector will want to keep a close eye on NTAP as it attempts to continue its solid performance.