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Is SYNNEX (SNX) Stock Outpacing Its Computer and Technology Peers This Year?

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The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is SYNNEX (SNX - 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.

SYNNEX is one of 629 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #4 in the Zacks Sector Rank. 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. SNX is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for SNX's full-year earnings has moved 4.19% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

According to our latest data, SNX has moved about 49.99% on a year-to-date basis. At the same time, Computer and Technology stocks have gained an average of 28.34%. This shows that SYNNEX is outperforming its peers so far this year.

Looking more specifically, SNX belongs to the Business - Software Services industry, a group that includes 11 individual stocks and currently sits at #68 in the Zacks Industry Rank.

Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to SNX as it looks to continue its solid performance.


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