Is CyberArk Software (CYBR) Stock Outpacing Its Computer and Technology Peers This Year?

For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Is CyberArk (CYBR) 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.

CyberArk is a member of the Computer and Technology sector. This group includes 605 individual stocks and currently holds a Zacks Sector Rank of #4. 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 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. CyberArk is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for CYBR's full-year earnings has moved 83.9% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Based on the latest available data, CYBR has gained about 30.6% so far this year. In comparison, Computer and Technology companies have returned an average of 11.5%. This means that CyberArk is performing better than its sector in terms of year-to-date returns.

Another Computer and Technology stock, which has outperformed the sector so far this year, is Camtek (CAMT). The stock has returned 21.8% year-to-date.

For Camtek, the consensus EPS estimate for the current year has increased 1.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Breaking things down more, CyberArk is a member of the Security industry, which includes 10 individual companies and currently sits at #42 in the Zacks Industry Rank. On average, stocks in this group have gained 16.4% this year, meaning that CYBR is performing better in terms of year-to-date returns.

On the other hand, Camtek belongs to the Electronics - Measuring Instruments industry. This 5-stock industry is currently ranked #32. The industry has moved +6.4% year to date.

Investors interested in the Computer and Technology sector may want to keep a close eye on CyberArk and Camtek as they attempt to continue their solid performance.

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This article originally published on Zacks Investment Research (zacks.com).

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