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Has Boingo Wireless (WIFI) Outpaced Other Computer and Technology Stocks This Year?

Zacks Equity Research
·2-min read

Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Has Boingo Wireless (WIFI) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

Boingo Wireless is one of 630 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #2 in the Zacks Sector Rank. 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 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. WIFI is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past 90 days, the Zacks Consensus Estimate for WIFI's full-year earnings has moved 27.69% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

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According to our latest data, WIFI has moved about 6.48% on a year-to-date basis. Meanwhile, stocks in the Computer and Technology group have gained about 5.26% on average. This shows that Boingo Wireless is outperforming its peers so far this year.

Breaking things down more, WIFI is a member of the Internet - Software and Services industry, which includes 19 individual companies and currently sits at #91 in the Zacks Industry Rank. Stocks in this group have gained about 7.62% so far this year, so WIFI is slightly underperforming its industry this group in terms of year-to-date returns.

Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to WIFI as it looks to continue its solid performance.


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Boingo Wireless, Inc. (WIFI) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.