Investors focused on the Computer and Technology space have likely heard of Inseego (INSG), but is the stock performing well in comparison to the rest of its sector peers? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
Inseego is a member of our Computer and Technology group, which includes 645 different companies and currently sits at #4 in 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 is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. INSG is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for INSG's full-year earnings has moved 2.70% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, INSG has gained about 16.63% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 11.42% on a year-to-date basis. This shows that Inseego is outperforming its peers so far this year.
Looking more specifically, INSG belongs to the Internet - Software industry, which includes 84 individual stocks and currently sits at #24 in the Zacks Industry Rank. On average, this group has gained an average of 20.52% so far this year, meaning that INSG is slightly underperforming its industry in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track INSG. The stock will be looking to continue its solid performance.
Inseego Corp. (INSG): Free Stock Analysis Report
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Zacks Investment Research