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. Is FireEye (FEYE - Free Report) one of those stocks right now? 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.
FireEye is a member of the Computer and Technology sector. This group includes 659 individual stocks and currently holds a Zacks Sector Rank of #5. 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. FEYE is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for FEYE's full-year earnings has moved 9.26% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, FEYE has gained about 40.92% so far this year. At the same time, Computer and Technology stocks have gained an average of 1.91%. This shows that FireEye is outperforming its peers so far this year.
Looking more specifically, FEYE belongs to the Security industry, a group that includes 12 individual stocks and currently sits at #19 in the Zacks Industry Rank. On average, this group has gained an average of 25.97% so far this year, meaning that FEYE 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 FEYE as it looks to continue its solid performance.