Yahoo Finance Are Computer and Technology Stocks Lagging Inseego (INSG) This Year?
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 Inseego (INSG) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Inseego is one of 618 companies in the Computer and Technology group. The Computer and Technology group currently sits at #5 within 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 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. Inseego is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for INSG's full-year earnings has moved 17% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that INSG has returned about 22.8% since the start of the calendar year. Meanwhile, the Computer and Technology sector has returned an average of 11.8% on a year-to-date basis. This means that Inseego is performing better than its sector in terms of year-to-date returns.
Cloudflare (NET) is another Computer and Technology stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 14.5%.
Over the past three months, Cloudflare's consensus EPS estimate for the current year has increased 15.4%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Inseego belongs to the Internet - Software industry, which includes 139 individual stocks and currently sits at #38 in the Zacks Industry Rank. Stocks in this group have gained about 20.3% so far this year, so INSG is performing better this group in terms of year-to-date returns. Cloudflare is also part of the same industry.
Investors with an interest in Computer and Technology stocks should continue to track Inseego and Cloudflare. These stocks will be looking to continue their solid performance.
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Inseego (INSG) : Free Stock Analysis Report
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