Investors focused on the Computer and Technology space have likely heard of Intuit (INTU – Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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.
Intuit is one of 604 companies in the Computer and Technology group. The Computer and Technology group currently sits at #4 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. INTU is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for INTU’s full-year earnings has moved 0.88{cb3fe4c54de06d7c4b8dceae281fb32e521027d1659af7adec2f427d2f5333d9} higher within the past quarter. This signals that analyst sentiment is improving and the stock’s earnings outlook is more positive.
Based on the latest available data, INTU has gained about 28.44{cb3fe4c54de06d7c4b8dceae281fb32e521027d1659af7adec2f427d2f5333d9} so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 26.33{cb3fe4c54de06d7c4b8dceae281fb32e521027d1659af7adec2f427d2f5333d9} on average. This means that Intuit is outperforming the sector as a whole this year.
Looking more specifically, INTU belongs to the Computer – Software industry, a group that includes 42 individual stocks and currently sits at #66 in the Zacks Industry Rank. Stocks in this group have gained about 32.83{cb3fe4c54de06d7c4b8dceae281fb32e521027d1659af7adec2f427d2f5333d9} so far this year, so INTU 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 INTU as it looks to continue its solid performance.
