The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Flex (FLEX) been one of those stocks this year? 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.
Flex is one of 601 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #1 in the Zacks Sector Rank. 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. Flex is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for FLEX's full-year earnings has moved 7.8% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, FLEX has gained about 66% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 27.5% on a year-to-date basis. As we can see, Flex is performing better than its sector in the calendar year.
Evolv Technologies Holdings, Inc. (EVLV) is another Computer and Technology stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 71.1%.
For Evolv Technologies Holdings, Inc., the consensus EPS estimate for the current year has increased 15% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Flex belongs to the Electronics - Miscellaneous Products industry, which includes 37 individual stocks and currently sits at #61 in the Zacks Industry Rank. On average, stocks in this group have gained 38.9% this year, meaning that FLEX is performing better in terms of year-to-date returns.
In contrast, Evolv Technologies Holdings, Inc. falls under the Computers - IT Services industry. Currently, this industry has 44 stocks and is ranked #93. Since the beginning of the year, the industry has moved -15.4%.
Investors with an interest in Computer and Technology stocks should continue to track Flex and Evolv Technologies Holdings, Inc.. These stocks will be looking to continue their solid performance.
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Flex Ltd. (FLEX): Free Stock Analysis Report Evolv Technologies Holdings, Inc. (EVLV): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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