The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Enovix Corporation (ENVX) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Enovix Corporation is a member of our Computer and Technology group, which includes 605 different companies and currently sits at #5 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. Enovix Corporation is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ENVX's full-year earnings has moved 3.5% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, ENVX has moved about 38.6% on a year-to-date basis. At the same time, Computer and Technology stocks have gained an average of 11.3%. This means that Enovix Corporation is outperforming the sector as a whole this year.
Another Computer and Technology stock, which has outperformed the sector so far this year, is Genius Sports Limited (GENI). The stock has returned 19.3% year-to-date.
The consensus estimate for Genius Sports Limited's current year EPS has increased 5.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Enovix Corporation belongs to the Electronics - Miscellaneous Products industry, which includes 37 individual stocks and currently sits at #55 in the Zacks Industry Rank. On average, stocks in this group have gained 14.8% this year, meaning that ENVX is performing better in terms of year-to-date returns.
On the other hand, Genius Sports Limited belongs to the Internet - Content industry. This 12-stock industry is currently ranked #175. The industry has moved +10.9% year to date.
Investors interested in the Computer and Technology sector may want to keep a close eye on Enovix Corporation and Genius Sports Limited as they attempt to continue their solid performance.
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Enovix Corporation (ENVX): Free Stock Analysis Report Genius Sports Limited (GENI): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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