Yahoo Finance Is EMCORE (EMKR) Stock Outpacing Its Computer and Technology Peers This Year?
The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Emcore (EMKR) one of those stocks right now? 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.
Emcore is one of 621 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #8 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Emcore is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for EMKR's full-year earnings has moved 34.8% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, EMKR has returned 32.9% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 6.9% on a year-to-date basis. This shows that Emcore is outperforming its peers so far this year.
Monday.com (MNDY) 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 14.7%.
In Monday.com's case, the consensus EPS estimate for the current year increased 50.3% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Emcore belongs to the Electronics - Manufacturing Machinery industry, which includes 8 individual stocks and currently sits at #217 in the Zacks Industry Rank. Stocks in this group have lost about 0.2% so far this year, so EMKR is performing better this group in terms of year-to-date returns.
In contrast, Monday.com falls under the Internet - Software industry. Currently, this industry has 146 stocks and is ranked #94. Since the beginning of the year, the industry has moved +15%.
Investors interested in the Computer and Technology sector may want to keep a close eye on Emcore and Monday.com as they attempt to continue their solid performance.
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EMCORE Corporation (EMKR) : Free Stock Analysis Report
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