Investors focused on the Computer and Technology space have likely heard of Ubiquiti Networks (UBNT - 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.
Ubiquiti Networks is a member of our Computer and Technology group, which includes 654 different companies and currently sits at #4 in the Zacks Sector Rank. 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. UBNT is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for UBNT's full-year earnings has moved 8.53% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, UBNT has gained about 38.33% so far this year. Meanwhile, stocks in the Computer and Technology group have lost about 5.92% on average. This means that Ubiquiti Networks is performing better than its sector in terms of year-to-date returns.
To break things down more, UBNT belongs to the Wireless Equipment industry, a group that includes 15 individual companies and currently sits at #23 in the Zacks Industry Rank. This group has gained an average of 3.88% so far this year, so UBNT is performing better in this area.
Investors with an interest in Computer and Technology stocks should continue to track UBNT. The stock will be looking to continue its solid performance.