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. Has Digital Turbine (APPS – Free Report) 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.
Digital Turbine is a member of our Computer and Technology group, which includes 614 different companies and currently sits at #6 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. APPS is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for APPS’s full-year earnings has moved 36.71% higher within the past quarter. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.
Our latest available data shows that APPS has returned about 680.36% since the start of the calendar year. At the same time, Computer and Technology stocks have gained an average of 41.72%. This means that Digital Turbine is outperforming the sector as a whole this year.
To break things down more, APPS belongs to the Internet – Software industry, a group that includes 96 individual companies and currently sits at #191 in the Zacks Industry Rank. On average, stocks in this group have gained 110.84% this year, meaning that APPS is performing better in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on APPS as it attempts to continue its solid performance.