Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Is NVIDIA (NVDA) one of those stocks right now? By taking a look at the stock’s year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
NVIDIA is a member of our Computer and Technology group, which includes 620 different companies and currently sits at #10 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. NVDA is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for NVDA’s full-year earnings has moved 21.18{cb3fe4c54de06d7c4b8dceae281fb32e521027d1659af7adec2f427d2f5333d9} higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, NVDA has returned 17.39{cb3fe4c54de06d7c4b8dceae281fb32e521027d1659af7adec2f427d2f5333d9} so far this year. At the same time, Computer and Technology stocks have gained an average of 15.32{cb3fe4c54de06d7c4b8dceae281fb32e521027d1659af7adec2f427d2f5333d9}. This means that NVIDIA is performing better than its sector in terms of year-to-date returns.
Breaking things down more, NVDA is a member of the Semiconductor – General industry, which includes 8 individual companies and currently sits at #180 in the Zacks Industry Rank. On average, stocks in this group have gained 16.20{cb3fe4c54de06d7c4b8dceae281fb32e521027d1659af7adec2f427d2f5333d9} this year, meaning that NVDA is performing better in terms of year-to-date returns.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to NVDA as it looks to continue its solid performance.
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