Investors focused on the Computer and Technology space have likely heard of Intuit (INTU - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of INTU and the rest of the Computer and Technology group's stocks.
Intuit is one of 629 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #6 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. INTU is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for INTU's full-year earnings has moved 0.16% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that INTU has returned about 35.07% since the start of the calendar year. Meanwhile, stocks in the Computer and Technology group have gained about 29.82% on average. This shows that Intuit is outperforming its peers so far this year.
To break things down more, INTU belongs to the Computer - Software industry, a group that includes 46 individual companies and currently sits at #75 in the Zacks Industry Rank. On average, this group has gained an average of 42.52% so far this year, meaning that INTU is slightly underperforming its industry in terms of year-to-date returns.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to INTU as it looks to continue its solid performance.