The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Digital Turbine (APPS) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
Digital Turbine is one of 612 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #5 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. APPS is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for APPS's full-year earnings has moved 6.80% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that APPS has returned about 33.24% since the start of the calendar year. At the same time, Computer and Technology stocks have gained an average of 10.72%. This means that Digital Turbine is outperforming the sector as a whole this year.
Looking more specifically, APPS belongs to the Internet - Software industry, a group that includes 90 individual stocks and currently sits at #29 in the Zacks Industry Rank. Stocks in this group have gained about 39.93% so far this year, so APPS is slightly underperforming its industry this group in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on APPS as it attempts to continue its solid performance.
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