Investors focused on the Computer and Technology space have likely heard of FireEye (FEYE - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of FEYE and the rest of the Computer and Technology group's stocks.
FireEye is one of 650 companies in the Computer and Technology group. The Computer and Technology group currently sits at #4 within 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 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).
Over the past 90 days, the Zacks Consensus Estimate for FEYE's full-year earnings has moved 8.43% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that FEYE has returned about 4.32% since the start of the calendar year. In comparison, Computer and Technology companies have returned an average of 3.80%. As we can see, FireEye is performing better than its sector in the calendar year.
Looking more specifically, FEYE belongs to the Security industry, which includes 12 individual stocks and currently sits at #34 in the Zacks Industry Rank. On average, this group has gained an average of 4.41% so far this year, meaning that FEYE is slightly underperforming its industry 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.