Investors focused on the Computer and Technology space have likely heard of CyberArk Software (CYBR), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of CYBR and the rest of the Computer and Technology group's stocks.
CyberArk Software is one of 631 companies in the Computer and Technology group. The Computer and Technology group currently sits at #8 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. CYBR is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for CYBR's full-year earnings has moved 7.41% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, CYBR has moved about 35.95% on a year-to-date basis. Meanwhile, stocks in the Computer and Technology group have gained about 23.20% on average. As we can see, CyberArk Software is performing better than its sector in the calendar year.
Looking more specifically, CYBR belongs to the Security industry, a group that includes 10 individual stocks and currently sits at #81 in the Zacks Industry Rank. Stocks in this group have gained about 13.44% so far this year, so CYBR is performing better this group in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on CYBR as it attempts to continue its solid performance.
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