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MARKETS LIVE BLOG:

S&P 500 SLIPS BELOW 5,000; NASDAQ SINKS ON TECH DRAG

Nvidia tumbles 10%, Amazon loses more than 2% while Apple ends 1% lower

Is Momo (MOMO) Stock Outpacing Its Computer and Technology Peers This Year?

Zacks Equity Research
Updated
Some investors are rotating out of earlier high flying technology stocks into cheap emerging markets.

The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Momo (MOMO) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of MOMO and the rest of the Computer and Technology group's stocks.

Momo is a member of our Computer and Technology group, which includes 630 different companies and currently sits at #9 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

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. MOMO is currently sporting a Zacks Rank of #1 (Strong Buy).

The Zacks Consensus Estimate for MOMO's full-year earnings has moved 21.20% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

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Our latest available data shows that MOMO has returned about 112.46% since the start of the calendar year. Meanwhile, stocks in the Computer and Technology group have gained about 8.62% on average. As we can see, Momo is performing better than its sector in the calendar year.

Looking more specifically, MOMO belongs to the Internet - Software and Services industry, which includes 21 individual stocks and currently sits at #85 in the Zacks Industry Rank. Stocks in this group have gained about 1.48% so far this year, so MOMO is performing better this group in terms of year-to-date returns.

MOMO will likely be looking to continue its solid performance, so investors interested Computer and Technology stocks should continue to pay close attention to the company.


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Zacks Investment Research