Investors focused on the Computer and Technology space have likely heard of Momo (MOMO - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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.
Momo is a member of the Computer and Technology sector. This group includes 641 individual stocks and currently holds a Zacks Sector Rank of #6. 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. MOMO is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for MOMO's full-year earnings has moved 0.64% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, MOMO has moved about 17.18% on a year-to-date basis. Meanwhile, the Computer and Technology sector has returned an average of 15.30% on a year-to-date basis. This means that Momo is outperforming the sector as a whole this year.
Breaking things down more, MOMO is a member of the Internet - Software and Services industry, which includes 20 individual companies and currently sits at #40 in the Zacks Industry Rank. On average, stocks in this group have gained 19.19% this year, meaning that MOMO is slightly underperforming its industry in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on MOMO as it attempts to continue its solid performance.