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Is Synopsys (SNPS) Stock Outpacing Its Computer and Technology Peers 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 Synopsys (SNPS - Free Report) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
Synopsys is a member of the Computer and Technology sector. This group includes 642 individual stocks and currently holds a Zacks Sector Rank of #6. 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. SNPS is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for SNPS's full-year earnings has moved 17.38% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, SNPS has returned 39.57% so far this year. At the same time, Computer and Technology stocks have gained an average of 18.90%. As we can see, Synopsys is performing better than its sector in the calendar year.
To break things down more, SNPS belongs to the Computer - Software industry, a group that includes 48 individual companies and currently sits at #17 in the Zacks Industry Rank. On average, stocks in this group have gained 20.05% this year, meaning that SNPS is performing better in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track SNPS. The stock will be looking to continue its solid performance.
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Is Synopsys (SNPS) Stock Outpacing Its Computer and Technology Peers This Year?
Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Has Synopsys (SNPS - Free Report) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
Synopsys is a member of the Computer and Technology sector. This group includes 642 individual stocks and currently holds a Zacks Sector Rank of #6. 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. SNPS is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for SNPS's full-year earnings has moved 17.38% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, SNPS has returned 39.57% so far this year. At the same time, Computer and Technology stocks have gained an average of 18.90%. As we can see, Synopsys is performing better than its sector in the calendar year.
To break things down more, SNPS belongs to the Computer - Software industry, a group that includes 48 individual companies and currently sits at #17 in the Zacks Industry Rank. On average, stocks in this group have gained 20.05% this year, meaning that SNPS is performing better in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track SNPS. The stock will be looking to continue its solid performance.