Is Snap (SNAP) Outperforming Other Computer and Technology Stocks This Year?

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Investors focused on the Computer and Technology space have likely heard of Snap (SNAP), 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.

Snap is a member of our Computer and Technology group, which includes 606 different companies and currently sits at #9 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 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. SNAP is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for SNAP’s full-year earnings has moved 5.92% higher. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.

Our latest available data shows that SNAP has returned about 51.50% since the start of the calendar year. At the same time, Computer and Technology stocks have gained an average of 17.31%. As we can see, Snap is performing better than its sector in the calendar year.

Looking more specifically, SNAP belongs to the Internet – Software industry, which includes 91 individual stocks and currently sits at #84 in the Zacks Industry Rank. Stocks in this group have gained about 54.59% so far this year, so SNAP is slightly underperforming its industry this group in terms of year-to-date returns.

Investors with an interest in Computer and Technology stocks should continue to track SNAP. The stock will be looking to continue its solid performance.

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