Credit: Shutterstock photoInvestors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Is Momo (MOMO) 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.
Momo is one of 632 companies in the Computer and Technology group. The Computer and Technology group currently sits at #6 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. MOMO is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for MOMO's full-year earnings has moved 3.88% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that MOMO has returned about 55.35% since the start of the calendar year. Meanwhile, stocks in the Computer and Technology group have gained about 3.62% on average. This means that Momo is outperforming the sector as a whole this year.
Looking more specifically, MOMO belongs to the Internet - Software and Services industry, a group that includes 21 individual stocks and currently sits at #67 in the Zacks Industry Rank. On average, this group has lost an average of 0.54% so far this year, meaning that MOMO is performing better in terms of year-to-date returns.
MOMO will likely be looking to continue its solid performance, so investors interested Computer and Technology stocks should continue to pay close attention to the company.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
