For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Cisco Systems (CSCO - 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.
Cisco Systems is a member of our Computer and Technology group, which includes 641 different companies and currently sits at #5 in the Zacks Sector Rank. 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 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. CSCO is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CSCO's full-year earnings has moved 1.82% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, CSCO has gained about 27.35% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 19.94% on a year-to-date basis. This means that Cisco Systems is outperforming the sector as a whole this year.
Looking more specifically, CSCO belongs to the Computer - Networking industry, a group that includes 8 individual stocks and currently sits at #69 in the Zacks Industry Rank. This group has gained an average of 28.45% so far this year, so CSCO is slightly underperforming its industry in this area.
CSCO 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.