Is CyberArk Software (CYBR) Outperforming Other Computer and Technology Stocks This Year?
The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is CyberArk (CYBR) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
CyberArk is one of 622 companies in the Computer and Technology group. The Computer and Technology group currently sits at #8 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. CyberArk is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CYBR's full-year earnings has moved 14.9% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, CYBR has moved about 33.1% on a year-to-date basis. Meanwhile, the Computer and Technology sector has returned an average of 25.1% on a year-to-date basis. This shows that CyberArk is outperforming its peers so far this year.
Another Computer and Technology stock, which has outperformed the sector so far this year, is Arteris, Inc. (AIP). The stock has returned 31.1% year-to-date.
The consensus estimate for Arteris, Inc.'s current year EPS has increased 1.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, CyberArk belongs to the Computers - IT Services industry, a group that includes 40 individual stocks and currently sits at #68 in the Zacks Industry Rank. On average, stocks in this group have gained 7.7% this year, meaning that CYBR is performing better in terms of year-to-date returns.
Arteris, Inc. however, belongs to the Internet - Software industry. Currently, this 143-stock industry is ranked #74. The industry has moved +22.8% so far this year.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to CyberArk and Arteris, Inc. as they could maintain their solid performance.
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CyberArk Software Ltd. (CYBR) : Free Stock Analysis Report
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