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Are Computer and Technology Stocks Lagging Cloudflare (NET) This Year?
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The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Cloudflare (NET - Free Report) been one of those stocks this year? 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.
Cloudflare is a member of the Computer and Technology sector. This group includes 627 individual stocks and currently holds a Zacks Sector Rank of #4. 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 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. Cloudflare is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for NET's full-year earnings has moved 2.9% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, NET has returned 39.6% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 37.8% on a year-to-date basis. This means that Cloudflare is outperforming the sector as a whole this year.
Another Computer and Technology stock, which has outperformed the sector so far this year, is NetEase (NTES - Free Report) . The stock has returned 53.6% year-to-date.
Over the past three months, NetEase's consensus EPS estimate for the current year has increased 15%. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Cloudflare is a member of the Internet - Software industry, which includes 148 individual companies and currently sits at #65 in the Zacks Industry Rank. On average, stocks in this group have gained 44.4% this year, meaning that NET is slightly underperforming its industry in terms of year-to-date returns.
In contrast, NetEase falls under the Internet - Software and Services industry. Currently, this industry has 11 stocks and is ranked #42. Since the beginning of the year, the industry has moved +25.6%.
Investors with an interest in Computer and Technology stocks should continue to track Cloudflare and NetEase. These stocks will be looking to continue their solid performance.
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Are Computer and Technology Stocks Lagging Cloudflare (NET) This Year?
The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Cloudflare (NET - Free Report) been one of those stocks this year? 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.
Cloudflare is a member of the Computer and Technology sector. This group includes 627 individual stocks and currently holds a Zacks Sector Rank of #4. 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 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. Cloudflare is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for NET's full-year earnings has moved 2.9% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, NET has returned 39.6% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 37.8% on a year-to-date basis. This means that Cloudflare is outperforming the sector as a whole this year.
Another Computer and Technology stock, which has outperformed the sector so far this year, is NetEase (NTES - Free Report) . The stock has returned 53.6% year-to-date.
Over the past three months, NetEase's consensus EPS estimate for the current year has increased 15%. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Cloudflare is a member of the Internet - Software industry, which includes 148 individual companies and currently sits at #65 in the Zacks Industry Rank. On average, stocks in this group have gained 44.4% this year, meaning that NET is slightly underperforming its industry in terms of year-to-date returns.
In contrast, NetEase falls under the Internet - Software and Services industry. Currently, this industry has 11 stocks and is ranked #42. Since the beginning of the year, the industry has moved +25.6%.
Investors with an interest in Computer and Technology stocks should continue to track Cloudflare and NetEase. These stocks will be looking to continue their solid performance.