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Has NetApp (NTAP) Outpaced Other Computer and Technology Stocks 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. Is NetApp (NTAP - 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.
NetApp 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 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. NTAP is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for NTAP's full-year earnings has moved 5.95% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, NTAP has returned 48.64% so far this year. In comparison, Computer and Technology companies have returned an average of 10.33%. This means that NetApp is outperforming the sector as a whole this year.
Looking more specifically, NTAP belongs to the Computer- Storage Devices industry, which includes 9 individual stocks and currently sits at #82 in the Zacks Industry Rank. On average, stocks in this group have gained 21.71% this year, meaning that NTAP is performing better in terms of year-to-date returns.
NTAP will likely be looking to continue its solid performance, so investors interested Computer and Technology stocks should continue to pay close attention to the company.
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Has NetApp (NTAP) Outpaced Other Computer and Technology Stocks 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. Is NetApp (NTAP - 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.
NetApp 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 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. NTAP is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for NTAP's full-year earnings has moved 5.95% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, NTAP has returned 48.64% so far this year. In comparison, Computer and Technology companies have returned an average of 10.33%. This means that NetApp is outperforming the sector as a whole this year.
Looking more specifically, NTAP belongs to the Computer- Storage Devices industry, which includes 9 individual stocks and currently sits at #82 in the Zacks Industry Rank. On average, stocks in this group have gained 21.71% this year, meaning that NTAP is performing better in terms of year-to-date returns.
NTAP will likely be looking to continue its solid performance, so investors interested Computer and Technology stocks should continue to pay close attention to the company.