Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Synopsys (SNPS - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of SNPS and the rest of the Computer and Technology group's stocks.
Synopsys is a member of the Computer and Technology sector. This group includes 637 individual stocks and currently holds a Zacks Sector Rank of #8. 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 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. SNPS is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for SNPS's full-year earnings has moved 3.96% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, SNPS has returned 61.69% so far this year. At the same time, Computer and Technology stocks have gained an average of 20.15%. As we can see, Synopsys is performing better than its sector in the calendar year.
To break things down more, SNPS belongs to the Computer - Software industry, a group that includes 48 individual companies and currently sits at #91 in the Zacks Industry Rank. This group has gained an average of 29.47% so far this year, so SNPS is performing better in this area.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to SNPS as it looks to continue its solid performance.