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Has Mitek Systems (MITK) Outpaced Other Computer and Technology Stocks This Year?
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For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Mitek Systems (MITK - 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.
Mitek Systems is a member of our Computer and Technology group, which includes 630 different companies and currently sits 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 is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. MITK is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for MITK's full-year earnings has moved 17.57% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that MITK has returned about 19.41% since the start of the calendar year. In comparison, Computer and Technology companies have returned an average of 0.75%. This means that Mitek Systems is performing better than its sector in terms of year-to-date returns.
Breaking things down more, MITK is a member of the Computer - Optical Imaging industry, which includes 1 individual companies and currently sits at #1 in the Zacks Industry Rank. This group has gained an average of 19.48% so far this year, so MITK is slightly underperforming its industry in this area.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to MITK as it looks to continue its solid performance.
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Has Mitek Systems (MITK) Outpaced Other Computer and Technology Stocks This Year?
For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Mitek Systems (MITK - 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.
Mitek Systems is a member of our Computer and Technology group, which includes 630 different companies and currently sits 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 is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. MITK is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for MITK's full-year earnings has moved 17.57% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that MITK has returned about 19.41% since the start of the calendar year. In comparison, Computer and Technology companies have returned an average of 0.75%. This means that Mitek Systems is performing better than its sector in terms of year-to-date returns.
Breaking things down more, MITK is a member of the Computer - Optical Imaging industry, which includes 1 individual companies and currently sits at #1 in the Zacks Industry Rank. This group has gained an average of 19.48% so far this year, so MITK is slightly underperforming its industry in this area.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to MITK as it looks to continue its solid performance.