Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Is NVIDIA (NVDA - 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.
NVIDIA is a member of our Computer and Technology group, which includes 630 different companies and currently sits 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. NVDA is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for NVDA's full-year earnings has moved 6.03% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, NVDA has returned 1.97% so far this year. In comparison, Computer and Technology companies have returned an average of 1.71%. This means that NVIDIA is performing better than its sector in terms of year-to-date returns.
Breaking things down more, NVDA is a member of the Semiconductor - General industry, which includes 8 individual companies and currently sits at #45 in the Zacks Industry Rank. On average, this group has gained an average of 0.02% so far this year, meaning that NVDA is performing better in terms of year-to-date returns.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to NVDA as it looks to continue its solid performance.