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Has SYNNEX (SNX) Outpaced Other Computer and Technology Stocks This Year?

Zacks Equity Research

Investors focused on the Computer and Technology space have likely heard of SYNNEX (SNX), but is the stock performing well in comparison to the rest of its sector peers? 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.

SYNNEX is one of 637 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #8 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 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. SNX is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for SNX's full-year earnings has moved 4.19% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

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Based on the most recent data, SNX has returned 39.18% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 20.15% on average. As we can see, SYNNEX is performing better than its sector in the calendar year.

Looking more specifically, SNX belongs to the Business - Software Services industry, a group that includes 11 individual stocks and currently sits at #108 in the Zacks Industry Rank. This group has gained an average of 9.70% so far this year, so SNX is performing better in this area.

Investors with an interest in Computer and Technology stocks should continue to track SNX. The stock will be looking to continue its solid performance.


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