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

Zacks Equity Research

Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. SYNNEX (SNX) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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 a member of the Computer and Technology sector. This group includes 630 individual stocks and currently holds a Zacks Sector Rank of #8. 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. SNX is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for SNX's full-year earnings has moved 4.19% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

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Based on the most recent data, SNX has returned 45.65% so far this year. In comparison, Computer and Technology companies have returned an average of 24.88%. This means that SYNNEX is outperforming the sector as a whole this year.

To break things down more, SNX belongs to the Business - Software Services industry, a group that includes 11 individual companies and currently sits at #101 in the Zacks Industry Rank. Stocks in this group have gained about 16.29% so far this year, so SNX is performing better this group in terms of year-to-date returns.

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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Zacks Investment Research