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Is Ciena (CIEN) Outperforming Other Computer and Technology Stocks This Year?
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Investors focused on the Computer and Technology space have likely heard of Ciena (CIEN - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of CIEN and the rest of the Computer and Technology group's stocks.
Ciena is one of 616 companies in the Computer and Technology group. The Computer and Technology group currently sits at #3 within 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 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. CIEN is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for CIEN's full-year earnings has moved 1.30% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, CIEN has returned 5.48% so far this year. Meanwhile, stocks in the Computer and Technology group have lost about 11.35% on average. This means that Ciena is outperforming the sector as a whole this year.
Looking more specifically, CIEN belongs to the Fiber Optics industry, which includes 1 individual stocks and currently sits at #3 in the Zacks Industry Rank. Stocks in this group have gained about 5.33% so far this year, so CIEN is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to CIEN as it looks to continue its solid performance.
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Is Ciena (CIEN) Outperforming Other Computer and Technology Stocks This Year?
Investors focused on the Computer and Technology space have likely heard of Ciena (CIEN - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of CIEN and the rest of the Computer and Technology group's stocks.
Ciena is one of 616 companies in the Computer and Technology group. The Computer and Technology group currently sits at #3 within 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 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. CIEN is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for CIEN's full-year earnings has moved 1.30% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, CIEN has returned 5.48% so far this year. Meanwhile, stocks in the Computer and Technology group have lost about 11.35% on average. This means that Ciena is outperforming the sector as a whole this year.
Looking more specifically, CIEN belongs to the Fiber Optics industry, which includes 1 individual stocks and currently sits at #3 in the Zacks Industry Rank. Stocks in this group have gained about 5.33% so far this year, so CIEN is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to CIEN as it looks to continue its solid performance.