The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Grindr Inc. (GRND) 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.
Grindr Inc. is a member of our Computer and Technology group, which includes 608 different companies and currently sits at #5 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. Grindr Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for GRND's full-year earnings has moved 17.5% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, GRND has moved about 22.7% on a year-to-date basis. Meanwhile, stocks in the Computer and Technology group have gained about 1.8% on average. This means that Grindr Inc. is performing better than its sector in terms of year-to-date returns.
Another stock in the Computer and Technology sector, Nutanix (NTNX), has outperformed the sector so far this year. The stock's year-to-date return is 19.8%.
For Nutanix, the consensus EPS estimate for the current year has increased 33.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Grindr Inc. belongs to the Internet - Software industry, which includes 169 individual stocks and currently sits at #46 in the Zacks Industry Rank. On average, stocks in this group have gained 13% this year, meaning that GRND is performing better in terms of year-to-date returns.
In contrast, Nutanix falls under the Computers - IT Services industry. Currently, this industry has 39 stocks and is ranked #77. Since the beginning of the year, the industry has moved -9%.
Investors interested in the Computer and Technology sector may want to keep a close eye on Grindr Inc. and Nutanix as they attempt to continue their solid performance.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>Grindr Inc. (GRND) : Free Stock Analysis Report
Boston Scientific Corporation (BSX) : Free Stock Analysis Report
Gold Fields Limited (GFI) : Free Stock Analysis Report
Grand Canyon Education, Inc. (LOPE) : Free Stock Analysis Report
Shake Shack, Inc. (SHAK) : Free Stock Analysis Report
Ferrari N.V. (RACE) : Free Stock Analysis Report
Nutanix (NTNX) : Free Stock Analysis Report
Life360, Inc. (LIF) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
