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Has Synopsys (SNPS) Outpaced 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 a member of our Computer and Technology group, which includes 630 different companies and currently sits at #5 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 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. SNPS is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for SNPS's full-year earnings has moved 10.59% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, SNPS has moved about 56.98% on a year-to-date basis. At the same time, Computer and Technology stocks have gained an average of 29.41%. This means that Synopsys is performing better than its sector in terms of year-to-date returns.
Looking more specifically, SNPS belongs to the Computer - Software industry, a group that includes 46 individual stocks and currently sits at #67 in the Zacks Industry Rank. Stocks in this group have gained about 40.84% so far this year, so SNPS is performing better this group in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on SNPS as it attempts to continue its solid performance.
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Has Synopsys (SNPS) Outpaced 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 a member of our Computer and Technology group, which includes 630 different companies and currently sits at #5 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 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. SNPS is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for SNPS's full-year earnings has moved 10.59% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, SNPS has moved about 56.98% on a year-to-date basis. At the same time, Computer and Technology stocks have gained an average of 29.41%. This means that Synopsys is performing better than its sector in terms of year-to-date returns.
Looking more specifically, SNPS belongs to the Computer - Software industry, a group that includes 46 individual stocks and currently sits at #67 in the Zacks Industry Rank. Stocks in this group have gained about 40.84% so far this year, so SNPS is performing better this group in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on SNPS as it attempts to continue its solid performance.