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. Has NVIDIA (NVDA) been one of those stocks this year? Let’s take a closer look at the stock’s year-to-date performance to find out.
NVIDIA is one of 630 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #14 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. NVDA is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for NVDA’s full-year earnings has moved 26.74% higher. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.
Based on the most recent data, NVDA has returned 56.93% so far this year. At the same time, Computer and Technology stocks have gained an average of 20.59%. This means that NVIDIA is performing better than its sector in terms of year-to-date returns.
Looking more specifically, NVDA belongs to the Semiconductor – General industry, a group that includes 8 individual stocks and currently sits at #63 in the Zacks Industry Rank. This group has gained an average of 34.94% so far this year, so NVDA is performing better in this area.
Investors with an interest in Computer and Technology stocks should continue to track NVDA. The stock will be looking to continue its solid performance.
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