Yahoo Finance Are Computer and Technology Stocks Lagging Cadence Design Systems (CDNS) This Year?
Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Has Cadence Design Systems (CDNS) been one of those stocks this year? 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.
Cadence Design Systems is one of 643 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #12 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. Cadence Design Systems is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for CDNS' full-year earnings has moved 9.1% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, CDNS has returned 26.9% so far this year. At the same time, Computer and Technology stocks have gained an average of 15.4%. As we can see, Cadence Design Systems is performing better than its sector in the calendar year.
Spark Networks, Inc. (LOV) is another Computer and Technology stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 24.6%.
For Spark Networks, Inc. the consensus EPS estimate for the current year has increased 62.5% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Cadence Design Systems belongs to the Computer - Software industry, a group that includes 39 individual stocks and currently sits at #93 in the Zacks Industry Rank. This group has gained an average of 16.2% so far this year, so CDNS is performing better in this area.
In contrast, Spark Networks, Inc. falls under the Internet - Content industry. Currently, this industry has 16 stocks and is ranked #51. Since the beginning of the year, the industry has moved +18.1%.
Investors interested in the Computer and Technology sector may want to keep a close eye on Cadence Design Systems and Spark Networks, Inc. as they attempt to continue their solid performance.
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