Is Microvision (MVIS) Stock Outpacing Its Computer and Technology Peers This Year?
Investors focused on the Computer and Technology space have likely heard of Microvision (MVIS), but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
Microvision is a member of our Computer and Technology group, which includes 606 different companies and currently sits at #10 in 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. MVIS is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for MVIS's full-year earnings has moved 43.33% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that MVIS has returned about 163.89% since the start of the calendar year. In comparison, Computer and Technology companies have returned an average of 15.54%. As we can see, Microvision is performing better than its sector in the calendar year.
Breaking things down more, MVIS is a member of the Lasers Systems and Components industry, which includes 6 individual companies and currently sits at #40 in the Zacks Industry Rank. On average, this group has gained an average of 2.02% so far this year, meaning that MVIS is performing better in terms of year-to-date returns.
MVIS 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.