Is Ubiquiti Networks (UBNT) 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. Is Ubiquiti Networks (UBNT) 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.
Ubiquiti Networks is one of 659 companies in the Computer and Technology group. The Computer and Technology group currently sits at #4 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. UBNT is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for UBNT's full-year earnings has moved 8.53% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, UBNT has returned 53.45% so far this year. Meanwhile, stocks in the Computer and Technology group have lost about 1.71% on average. This means that Ubiquiti Networks is performing better than its sector in terms of year-to-date returns.
Looking more specifically, UBNT belongs to the Wireless Equipment industry, a group that includes 16 individual stocks and currently sits at #17 in the Zacks Industry Rank. This group has gained an average of 8.33% so far this year, so UBNT is performing better in this area.
Investors with an interest in Computer and Technology stocks should continue to track UBNT. The stock will be looking to continue its solid performance.