Is Momo (MOMO) Stock Outpacing Its Computer and Technology Peers This Year? – Nasdaq
By daniellenierenberg
Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Momo (MOMO) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of MOMO and the rest of the Computer and Technology group's stocks.
Momo is one of 630 companies in the Computer and Technology group. The Computer and Technology group currently sits at #7 within 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 is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. MOMO is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for MOMO's full-year earnings has moved 11.33% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, MOMO has moved about 53.94% on a year-to-date basis. In comparison, Computer and Technology companies have returned an average of 32.75%. This shows that Momo is outperforming its peers so far this year.
Breaking things down more, MOMO is a member of the Internet - Software and Services industry, which includes 19 individual companies and currently sits at #74 in the Zacks Industry Rank. On average, this group has gained an average of 34.46% so far this year, meaning that MOMO is performing better in terms of year-to-date returns.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to MOMO as it looks to continue its solid performance.
Momo Inc. (MOMO): Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Is Momo (MOMO) Stock Outpacing Its Computer and Technology Peers This Year? - Nasdaq
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