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Is NetApp (NTAP) Outperforming Other Computer and Technology Stocks This Year? September 19, 2024
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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 NetApp (NTAP - Free Report) 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.
NetApp is a member of the Computer and Technology sector. This group includes 616 individual stocks and currently holds a Zacks Sector Rank of #8. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. NetApp is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for NTAP's full-year earnings has moved 5% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that NTAP has returned about 35.4% since the start of the calendar year. Meanwhile, stocks in the Computer and Technology group have gained about 20% on average. As we can see, NetApp is performing better than its sector in the calendar year.
Another Computer and Technology stock, which has outperformed the sector so far this year, is Box (BOX - Free Report) . The stock has returned 29.2% year-to-date.
In Box's case, the consensus EPS estimate for the current year increased 29.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, NetApp belongs to the Computer- Storage Devices industry, which includes 7 individual stocks and currently sits at #154 in the Zacks Industry Rank. Stocks in this group have gained about 32.5% so far this year, so NTAP is performing better this group in terms of year-to-date returns.
On the other hand, Box belongs to the Internet - Software industry. This 139-stock industry is currently ranked #79. The industry has moved +16.7% year to date.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to NetApp and Box as they could maintain their solid performance.
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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 NetApp (NTAP - Free Report) 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.
NetApp is a member of the Computer and Technology sector. This group includes 616 individual stocks and currently holds a Zacks Sector Rank of #8. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. NetApp is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for NTAP's full-year earnings has moved 5% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that NTAP has returned about 35.4% since the start of the calendar year. Meanwhile, stocks in the Computer and Technology group have gained about 20% on average. As we can see, NetApp is performing better than its sector in the calendar year.
Another Computer and Technology stock, which has outperformed the sector so far this year, is Box (BOX - Free Report) . The stock has returned 29.2% year-to-date.
In Box's case, the consensus EPS estimate for the current year increased 29.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, NetApp belongs to the Computer- Storage Devices industry, which includes 7 individual stocks and currently sits at #154 in the Zacks Industry Rank. Stocks in this group have gained about 32.5% so far this year, so NTAP is performing better this group in terms of year-to-date returns.
On the other hand, Box belongs to the Internet - Software industry. This 139-stock industry is currently ranked #79. The industry has moved +16.7% year to date.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to NetApp and Box as they could maintain their solid performance.