Yahoo Finance Is Turtle Beach (HEAR) Stock Outpacing Its Computer and Technology Peers This Year?
The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Turtle Beach (HEAR) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Turtle Beach is one of 619 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #11 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. Turtle Beach is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for HEAR's full-year earnings has moved 244.9% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, HEAR has gained about 47.6% so far this year. In comparison, Computer and Technology companies have returned an average of 12.5%. This means that Turtle Beach is outperforming the sector as a whole this year.
NetApp (NTAP) 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 22.7%.
Over the past three months, NetApp's consensus EPS estimate for the current year has increased 6.2%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Turtle Beach belongs to the Communication - Components industry, which includes 12 individual stocks and currently sits at #36 in the Zacks Industry Rank. Stocks in this group have gained about 19.4% so far this year, so HEAR is performing better this group in terms of year-to-date returns.
NetApp, however, belongs to the Computer- Storage Devices industry. Currently, this 7-stock industry is ranked #16. The industry has moved +66.4% so far this year.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to Turtle Beach and NetApp as they could maintain their solid performance.
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Turtle Beach Corporation (HEAR) : Free Stock Analysis Report
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