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? 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.
Momo is one of 631 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #5 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 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. 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 9.22% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that MOMO has returned about 7.76% since the start of the calendar year. Meanwhile, the Computer and Technology sector has returned an average of 0.99% on a year-to-date basis. This means that Momo is performing better than its sector in terms of year-to-date returns.
Looking more specifically, MOMO belongs to the Internet - Software and Services industry, a group that includes 19 individual stocks and currently sits at #69 in the Zacks Industry Rank. Stocks in this group have gained about 4.09% so far this year, so MOMO is performing better this group in terms of year-to-date returns.
MOMO will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company.