Investors focused on the Computer and Technology space have likely heard of NVIDIA (NVDA), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of NVDA and the rest of the Computer and Technology group’s stocks.
NVIDIA is a member of the Computer and Technology sector. This group includes 630 individual stocks and currently holds a Zacks Sector Rank of #12. 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 proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. NVDA is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for NVDA’s full-year earnings has moved 35.76% higher. This signals that analyst sentiment is improving and the stock’s earnings outlook is more positive.
According to our latest data, NVDA has moved about 68.20% on a year-to-date basis. Meanwhile, stocks in the Computer and Technology group have gained about 24.09% on average. This shows that NVIDIA is outperforming its peers so far this year.
Looking more specifically, NVDA belongs to the Semiconductor – General industry, which includes 8 individual stocks and currently sits at #54 in the Zacks Industry Rank. On average, stocks in this group have gained 38.17% this year, meaning that NVDA is performing better in terms of year-to-date returns.
NVDA will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company.
Tech IPOs With Massive Profit Potential
In the past few years, many popular platforms and like Uber and Airbnb finally made their way to the public markets. But the biggest paydays came from lesser-known names.
For example, electric carmaker X Peng shot up +299.4% in just 2 months. Think of it this way…
If you had put $5,000 into XPEV at its IPO in September 2020, you could have cashed out with $19,970 in November.
With record amounts of cash flooding into IPOs and a record-setting stock market, this year’s lineup could be even more lucrative.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.