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Has Shopify (SHOP) Outpaced Other Computer and Technology Stocks This Year?
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Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Is Shopify (SHOP - Free Report) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Shopify is a member of our Computer and Technology group, which includes 625 different companies and currently sits at #6 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. Shopify is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for SHOP's full-year earnings has moved 96% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, SHOP has gained about 73.9% so far this year. At the same time, Computer and Technology stocks have gained an average of 39%. This shows that Shopify is outperforming its peers so far this year.
Another stock in the Computer and Technology sector, Synopsys (SNPS - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 58.2%.
For Synopsys, the consensus EPS estimate for the current year has increased 7.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Shopify belongs to the Internet - Services industry, a group that includes 40 individual stocks and currently sits at #79 in the Zacks Industry Rank. This group has gained an average of 46.5% so far this year, so SHOP is performing better in this area.
On the other hand, Synopsys belongs to the Computer - Software industry. This 37-stock industry is currently ranked #79. The industry has moved +48.1% year to date.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to Shopify and Synopsys as they could maintain their solid performance.
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Has Shopify (SHOP) Outpaced Other Computer and Technology Stocks This Year?
Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Is Shopify (SHOP - Free Report) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Shopify is a member of our Computer and Technology group, which includes 625 different companies and currently sits at #6 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. Shopify is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for SHOP's full-year earnings has moved 96% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, SHOP has gained about 73.9% so far this year. At the same time, Computer and Technology stocks have gained an average of 39%. This shows that Shopify is outperforming its peers so far this year.
Another stock in the Computer and Technology sector, Synopsys (SNPS - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 58.2%.
For Synopsys, the consensus EPS estimate for the current year has increased 7.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Shopify belongs to the Internet - Services industry, a group that includes 40 individual stocks and currently sits at #79 in the Zacks Industry Rank. This group has gained an average of 46.5% so far this year, so SHOP is performing better in this area.
On the other hand, Synopsys belongs to the Computer - Software industry. This 37-stock industry is currently ranked #79. The industry has moved +48.1% year to date.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to Shopify and Synopsys as they could maintain their solid performance.