Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Is SYNNEX (SNX - Free Report) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
SYNNEX is a member of the Computer and Technology sector. This group includes 642 individual stocks and currently holds a Zacks Sector Rank of #6. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. SNX is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for SNX's full-year earnings has moved 1.17% 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, SNX has gained about 16.75% so far this year. At the same time, Computer and Technology stocks have gained an average of 14.86%. This means that SYNNEX is outperforming the sector as a whole this year.
Looking more specifically, SNX belongs to the Business - Software Services industry, which includes 11 individual stocks and currently sits at #65 in the Zacks Industry Rank. Stocks in this group have gained about 14.24% so far this year, so SNX is performing better this group in terms of year-to-date returns.
SNX will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company.