Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Has NetApp (NTAP - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
NetApp 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 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 #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for NTAP's full-year earnings has moved 1.69% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, NTAP has gained about 20.88% so far this year. In comparison, Computer and Technology companies have returned an average of 1.91%. This means that NetApp is outperforming the sector as a whole this year.
To break things down more, NTAP belongs to the Computer- Storage Devices industry, a group that includes 9 individual companies and currently sits at #174 in the Zacks Industry Rank. Stocks in this group have lost about 9.81% so far this year, so NTAP is performing better this group in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track NTAP. The stock will be looking to continue its solid performance.