Has Momo (MOMO) Outpaced Other Computer and Technology Stocks This Year?
Investors focused on the Computer and Technology space have likely heard of Momo (MOMO), 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 MOMO and the rest of the Computer and Technology group's stocks.
Momo is a member of our Computer and Technology group, which includes 629 different companies and currently sits at #6 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 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. MOMO is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for MOMO's full-year earnings has moved 2.11% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, MOMO has returned 58.06% so far this year. At the same time, Computer and Technology stocks have gained an average of 28.01%. This means that Momo is performing better than its sector in terms of year-to-date returns.
To break things down more, MOMO belongs to the Internet - Software and Services industry, a group that includes 19 individual companies and currently sits at #84 in the Zacks Industry Rank. On average, stocks in this group have gained 35.33% this year, meaning that MOMO is performing better in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track MOMO. The stock will be looking to continue its solid performance.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.