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Is Cloudflare (NET) Outperforming 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. Has Cloudflare (NET - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Cloudflare is a member of our Computer and Technology group, which includes 621 different companies and currently sits at #11 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 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. Cloudflare is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for NET's full-year earnings has moved 0.4% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, NET has moved about 26.9% on a year-to-date basis. Meanwhile, the Computer and Technology sector has returned an average of 9.6% on a year-to-date basis. This means that Cloudflare is outperforming the sector as a whole this year.
American Superconductor (AMSC - Free Report) is another Computer and Technology stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 17%.
For American Superconductor, the consensus EPS estimate for the current year has increased 35.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Cloudflare belongs to the Internet - Software industry, a group that includes 146 individual companies and currently sits at #79 in the Zacks Industry Rank. This group has gained an average of 18.5% so far this year, so NET is performing better in this area.
American Superconductor, however, belongs to the Electronics - Miscellaneous Components industry. Currently, this 32-stock industry is ranked #155. The industry has moved +1.8% so far this year.
Cloudflare and American Superconductor could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.
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Is Cloudflare (NET) Outperforming 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. Has Cloudflare (NET - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Cloudflare is a member of our Computer and Technology group, which includes 621 different companies and currently sits at #11 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 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. Cloudflare is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for NET's full-year earnings has moved 0.4% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, NET has moved about 26.9% on a year-to-date basis. Meanwhile, the Computer and Technology sector has returned an average of 9.6% on a year-to-date basis. This means that Cloudflare is outperforming the sector as a whole this year.
American Superconductor (AMSC - Free Report) is another Computer and Technology stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 17%.
For American Superconductor, the consensus EPS estimate for the current year has increased 35.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Cloudflare belongs to the Internet - Software industry, a group that includes 146 individual companies and currently sits at #79 in the Zacks Industry Rank. This group has gained an average of 18.5% so far this year, so NET is performing better in this area.
American Superconductor, however, belongs to the Electronics - Miscellaneous Components industry. Currently, this 32-stock industry is ranked #155. The industry has moved +1.8% so far this year.
Cloudflare and American Superconductor could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.