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Is Synopsys (SNPS) Outperforming Other Computer and Technology Stocks This Year?
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Investors focused on the Computer and Technology space have likely heard of Synopsys (SNPS - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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 one of 632 companies in the Computer and Technology group. The Computer and Technology group currently sits at #5 within 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. SNPS is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for SNPS's full-year earnings has moved 3.96% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, SNPS has gained about 66.97% so far this year. In comparison, Computer and Technology companies have returned an average of 23.63%. This means that Synopsys is performing better than its sector in terms of year-to-date returns.
To break things down more, SNPS belongs to the Computer - Software industry, a group that includes 47 individual companies and currently sits at #51 in the Zacks Industry Rank. This group has gained an average of 33.95% so far this year, so SNPS is performing better in this area.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to SNPS as it looks to continue its solid performance.
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Is Synopsys (SNPS) Outperforming Other Computer and Technology Stocks This Year?
Investors focused on the Computer and Technology space have likely heard of Synopsys (SNPS - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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 one of 632 companies in the Computer and Technology group. The Computer and Technology group currently sits at #5 within 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. SNPS is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for SNPS's full-year earnings has moved 3.96% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, SNPS has gained about 66.97% so far this year. In comparison, Computer and Technology companies have returned an average of 23.63%. This means that Synopsys is performing better than its sector in terms of year-to-date returns.
To break things down more, SNPS belongs to the Computer - Software industry, a group that includes 47 individual companies and currently sits at #51 in the Zacks Industry Rank. This group has gained an average of 33.95% so far this year, so SNPS is performing better in this area.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to SNPS as it looks to continue its solid performance.