The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Digital Turbine (APPS) one of those stocks right now? 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.
Digital Turbine is one of 626 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 gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. APPS is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for APPS’s full-year earnings has moved 11.73% higher. This signals that analyst sentiment is improving and the stock’s earnings outlook is more positive.
Based on the most recent data, APPS has returned 36.19% so far this year. In comparison, Computer and Technology companies have returned an average of 2.68%. This shows that Digital Turbine is outperforming its peers so far this year.
Looking more specifically, APPS belongs to the Internet – Software industry, a group that includes 104 individual stocks and currently sits at #167 in the Zacks Industry Rank. This group has lost an average of 6.08% so far this year, so APPS is performing better in this area.
Investors with an interest in Computer and Technology stocks should continue to track APPS. The stock will be looking to continue its solid performance.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.