For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Has CyberArk Software (CYBR) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
CyberArk Software is one of 659 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #4 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. CYBR is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for CYBR's full-year earnings has moved 33.38% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, CYBR has returned 84.03% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 0.15% on average. This shows that CyberArk Software is outperforming its peers so far this year.
Breaking things down more, CYBR is a member of the Security industry, which includes 12 individual companies and currently sits at #22 in the Zacks Industry Rank. On average, stocks in this group have gained 27.32% this year, meaning that CYBR is performing better in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track CYBR. The stock will be looking to continue its solid performance.