Is SYNNEX (SNX) Outperforming Other Computer and Technology Stocks This Year?
Investors focused on the Computer and Technology space have likely heard of SYNNEX (SNX), 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.
SYNNEX is a member of the Computer and Technology sector. This group includes 641 individual stocks and currently holds a Zacks Sector Rank of #5. 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 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. SNX is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for SNX's full-year earnings has moved 0.88% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that SNX has returned about 31.56% since the start of the calendar year. Meanwhile, stocks in the Computer and Technology group have gained about 21.91% on average. This shows that SYNNEX is outperforming its peers so far this year.
Breaking things down more, SNX is a member of the Business - Software Services industry, which includes 11 individual companies and currently sits at #20 in the Zacks Industry Rank. On average, this group has gained an average of 19.04% so far this year, meaning that SNX is performing better in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track SNX. The stock will be looking to continue its solid performance.
Click to get this free report
SYNNEX Corporation (SNX): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research