Is Digital Turbine (APPS) Stock Outpacing Its Computer and Technology Peers This Year?
Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Is Digital Turbine (APPS) one of those stocks right now? 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.
Digital Turbine is one of 606 companies in the Computer and Technology group. The Computer and Technology group currently sits at #10 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 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. APPS is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for APPS's full-year earnings has moved 3.40% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, APPS has moved about 78.40% on a year-to-date basis. In comparison, Computer and Technology companies have returned an average of 14.81%. This shows that Digital Turbine is outperforming its peers so far this year.
To break things down more, APPS belongs to the Internet - Software industry, a group that includes 91 individual companies and currently sits at #75 in the Zacks Industry Rank. Stocks in this group have gained about 47.36% so far this year, so APPS is performing better this group in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track APPS. 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.