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 SecureWorks (SCWX) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
SecureWorks is a member of the Computer and Technology sector. This group includes 645 individual stocks and currently holds a Zacks Sector Rank of #4. 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 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. SCWX is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for SCWX's full-year earnings has moved 22.08% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, SCWX has moved about 25.10% on a year-to-date basis. Meanwhile, the Computer and Technology sector has returned an average of 11.42% on a year-to-date basis. This means that SecureWorks is outperforming the sector as a whole this year.
Looking more specifically, SCWX belongs to the Computers - IT Services industry, a group that includes 27 individual stocks and currently sits at #22 in the Zacks Industry Rank. On average, this group has gained an average of 19.11% so far this year, meaning that SCWX is performing better in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track SCWX. The stock will be looking to continue its solid performance.