Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Has Evolv Technologies Holdings, Inc. (EVLV) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Evolv Technologies Holdings, Inc. is one of 603 companies in the Computer and Technology group. The Computer and Technology group currently sits at #1 within 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. Evolv Technologies Holdings, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for EVLV's full-year earnings has moved 15% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, EVLV has gained about 68.9% so far this year. At the same time, Computer and Technology stocks have gained an average of 29%. This means that Evolv Technologies Holdings, Inc. 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 Flex (FLEX). The stock has returned 62.6% year-to-date.
The consensus estimate for Flex's current year EPS has increased 7.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Evolv Technologies Holdings, Inc. belongs to the Computers - IT Services industry, which includes 44 individual stocks and currently sits at #84 in the Zacks Industry Rank. On average, this group has lost an average of 13.4% so far this year, meaning that EVLV is performing better in terms of year-to-date returns.
In contrast, Flex falls under the Electronics - Miscellaneous Products industry. Currently, this industry has 37 stocks and is ranked #53. Since the beginning of the year, the industry has moved +33.7%.
Investors with an interest in Computer and Technology stocks should continue to track Evolv Technologies Holdings, Inc. and Flex. These stocks will be looking to continue their solid performance.
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Evolv Technologies Holdings, Inc. (EVLV): Free Stock Analysis Report Flex Ltd. (FLEX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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