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. Has Simulations Plus (SLP - Free Report) been one of those stocks this year? 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.
Simulations Plus is one of 637 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #9 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. SLP is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for SLP's full-year earnings has moved 4.55% 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, SLP has gained about 86.03% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 18.80% on a year-to-date basis. This means that Simulations Plus is performing better than its sector in terms of year-to-date returns.
Looking more specifically, SLP belongs to the Computer - Software industry, which includes 48 individual stocks and currently sits at #69 in the Zacks Industry Rank. On average, stocks in this group have gained 29.14% this year, meaning that SLP is performing better in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on SLP as it attempts to continue its solid performance.