Investors focused on the Computer and Technology space have likely heard of Snap (SNAP - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
Snap is one of 630 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 groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. SNAP is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for SNAP's full-year earnings has moved 6.93% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that SNAP has returned about 6.61% since the start of the calendar year. In comparison, Computer and Technology companies have returned an average of 3.55%. This shows that Snap is outperforming its peers so far this year.
To break things down more, SNAP belongs to the Internet - Software industry, a group that includes 92 individual companies and currently sits at #109 in the Zacks Industry Rank. Stocks in this group have gained about 6.37% so far this year, so SNAP is performing better this group in terms of year-to-date returns.
SNAP 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.