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. Is Perion Network (PERI) one of those stocks right now? Let’s take a closer look at the stock’s year-to-date performance to find out.
Perion Network is a member of the Computer and Technology sector. This group includes 665 individual stocks and currently holds a Zacks Sector Rank of #11. 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 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. Perion Network is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for PERI’s full-year earnings has moved 14.5% higher. This means that analyst sentiment is stronger and the stock’s earnings outlook is improving.
Our latest available data shows that PERI has returned about 10.2% since the start of the calendar year. In comparison, Computer and Technology companies have returned an average of -8.9%. This means that Perion Network is performing better than its sector in terms of year-to-date returns.
Another Computer and Technology stock, which has outperformed the sector so far this year, is Benefitfocus (BNFT). The stock has returned 18.1% year-to-date.
Over the past three months, Benefitfocus’ consensus EPS estimate for the current year has increased 55.7%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Perion Network belongs to the Internet – Content industry, which includes 18 individual stocks and currently sits at #108 in the Zacks Industry Rank. On average, stocks in this group have lost 8.9% this year, meaning that PERI is performing better in terms of year-to-date returns.
On the other hand, Benefitfocus belongs to the Internet – Software industry. This 148-stock industry is currently ranked #193. The industry has moved -26% year to date.
Investors with an interest in Computer and Technology stocks should continue to track Perion Network and Benefitfocus. These stocks will be looking to continue their solid performance.
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Perion Network Ltd (PERI): Free Stock Analysis Report
Benefitfocus, Inc. (BNFT): 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.