Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Has Allego N.V. (ALLG) 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.
Allego N.V. is one of 665 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #10 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 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. Allego N.V. is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ALLG’s full-year earnings has moved 8.3% higher within the past quarter. This signals that analyst sentiment is improving and the stock’s earnings outlook is more positive.
According to our latest data, ALLG has moved about 79.6% on a year-to-date basis. Meanwhile, the Computer and Technology sector has returned an average of -12.2% on a year-to-date basis. This means that Allego N.V. is performing better than its sector in terms of year-to-date returns.
One other Computer and Technology stock that has outperformed the sector so far this year is Power Integrations (POWI). The stock is up 1.7% year-to-date.
The consensus estimate for Power Integrations’ current year EPS has increased 13.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Allego N.V. is a member of the Electronics – Miscellaneous Products industry, which includes 26 individual companies and currently sits at #191 in the Zacks Industry Rank. On average, this group has lost an average of 17.4% so far this year, meaning that ALLG is performing better in terms of year-to-date returns.
Power Integrations, however, belongs to the Semiconductors – Power industry. Currently, this 1-stock industry is ranked #9. The industry has moved +1.9% so far this year.
Allego N.V. and Power Integrations could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.
Just Released: Zacks Top 10 Stocks for 2022
In addition to the investment ideas discussed above, would you like to know about our 10 top buy-and-hold tickers for the entirety of 2022?
Last year’s 2021 Zacks Top 10 Stocks portfolio returned gains as high as +147.7%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.