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 one of 645 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #4 in 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. SNX is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for SNX's full-year earnings has moved 1.99% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, SNX has gained about 25.25% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 11.66% on average. This means that SYNNEX is performing better than its sector in terms of year-to-date returns.
Breaking things down more, SNX is a member of the Business - Software Services industry, which includes 11 individual companies and currently sits at #25 in the Zacks Industry Rank. This group has gained an average of 16.30% so far this year, so SNX is performing better in this area.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to SNX as it looks to continue its solid performance.
SYNNEX Corporation (SNX): Free Stock Analysis Report
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