Advertisement
Canada markets close in 8 minutes

  • S&P/TSX

    21,665.01
    -75.19 (-0.35%)
     

  • S&P 500

    5,064.04
    +2.22 (+0.04%)
     

  • DOW

    37,901.33
    +166.22 (+0.44%)
     

  • CAD/USD

    0.7237
    -0.0016 (-0.22%)
     

  • CRUDE OIL

    85.37
    -0.04 (-0.05%)
     

  • Bitcoin CAD

    86,657.12
    -1,167.70 (-1.33%)
     

  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     

  • GOLD FUTURES

    2,406.40
    +23.40 (+0.98%)
     

  • RUSSELL 2000

    1,967.32
    -8.39 (-0.42%)
     

  • 10-Yr Bond

    4.6590
    +0.0310 (+0.67%)
     

  • NASDAQ

    15,904.41
    +19.39 (+0.12%)
     

  • VOLATILITY

    18.33
    -0.90 (-4.68%)
     

  • FTSE

    7,820.36
    -145.17 (-1.82%)
     

  • NIKKEI 225

    38,471.20
    -761.60 (-1.94%)
     

  • CAD/EUR

    0.6810
    -0.0014 (-0.21%)
     
MARKETS LIVE BLOG:

STOCKS TURN HIGHER WITH COMPANY EARNINGS ROLLING IN

Fed's Powell: Will take 'longer than expected' to reach confidence on inflation

Is SYNNEX (SNX) Stock Outpacing Its Computer and Technology Peers 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? 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.

SYNNEX is a member of our Computer and Technology group, which includes 630 different companies and currently sits at #2 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 #1 (Strong Buy).

Within the past quarter, the Zacks Consensus Estimate for SNX's full-year earnings has moved 5.89% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

ADVERTISEMENT

According to our latest data, SNX has moved about 9.61% on a year-to-date basis. At the same time, Computer and Technology stocks have gained an average of 9.22%. This means that SYNNEX is performing better than its sector in terms of year-to-date returns.

Looking more specifically, SNX belongs to the Business - Software Services industry, which includes 11 individual stocks and currently sits at #18 in the Zacks Industry Rank. Stocks in this group have gained about 12.08% so far this year, so SNX is slightly underperforming its industry this group in terms of year-to-date returns.

Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to SNX as it looks to continue its solid performance.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
To read this article on Zacks.com click here.