The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Mitek Systems (MITK - 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.
Mitek Systems is one of 655 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #5 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. MITK is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for MITK's full-year earnings has moved 5.56% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, MITK has gained about 12.18% so far this year. At the same time, Computer and Technology stocks have lost an average of 11.26%. This means that Mitek Systems is outperforming the sector as a whole this year.
To break things down more, MITK belongs to the Computer - Optical Imaging industry, a group that includes 1 individual companies and currently sits at #1 in the Zacks Industry Rank. On average, this group has gained an average of 12.18% so far this year, meaning that MITK is performing on par in terms of year-to-date returns.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to MITK as it looks to continue its solid performance.