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 Flex (FLEX) been one of those stocks this year? 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.
Flex is a member of our Computer and Technology group, which includes 665 different companies and currently sits at #9 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 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. Flex is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for FLEX’s full-year earnings has moved 7.6% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, FLEX has moved about 1.2% on a year-to-date basis. Meanwhile, stocks in the Computer and Technology group have lost about 10.7% on average. As we can see, Flex is performing better than its sector in the calendar year.
Gogo (GOGO) is another Computer and Technology stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 40.9%.
For Gogo, the consensus EPS estimate for the current year has increased 24.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Flex is a member of the Electronics – Miscellaneous Products industry, which includes 28 individual companies and currently sits at #107 in the Zacks Industry Rank. This group has lost an average of 14.1% so far this year, so FLEX is performing better in this area.
Gogo, however, belongs to the Wireless National industry. Currently, this 10-stock industry is ranked #195. The industry has moved +1.8% so far this year.
Flex and Gogo could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.
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Flex Ltd. (FLEX): Free Stock Analysis Report
Gogo Inc. (GOGO): Free Stock Analysis Report
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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.