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Has Pure Storage (PSTG) Outpaced Other Computer and Technology Stocks This Year?

Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Is Pure Storage (PSTG) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.

Pure Storage is a member of the Computer and Technology sector. This group includes 647 individual stocks and currently holds a Zacks Sector Rank of #4. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

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. PSTG is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for PSTG's full-year earnings has moved 11.43% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Based on the latest available data, PSTG has gained about 9.08% so far this year. At the same time, Computer and Technology stocks have gained an average of 4.93%. This means that Pure Storage is performing better than its sector in terms of year-to-date returns.

Looking more specifically, PSTG belongs to the Computer- Storage Devices industry, which includes 7 individual stocks and currently sits at #179 in the Zacks Industry Rank. This group has gained an average of 6.19% so far this year, so PSTG is performing better in this area.

Investors with an interest in Computer and Technology stocks should continue to track PSTG. 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.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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