Is Intuit (INTU) Outperforming Other Computer and Technology Stocks This Year?
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 Intuit (INTU) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Intuit is one of 613 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 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. INTU is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for INTU's full-year earnings has moved 6.89% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, INTU has moved about 33.47% on a year-to-date basis. Meanwhile, stocks in the Computer and Technology group have gained about 30.33% on average. This means that Intuit is outperforming the sector as a whole this year.
To break things down more, INTU belongs to the Computer - Software industry, a group that includes 42 individual companies and currently sits at #81 in the Zacks Industry Rank. On average, this group has gained an average of 39.19% so far this year, meaning that INTU is slightly underperforming its industry in terms of year-to-date returns.
INTU will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company.
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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.