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 CTS (CTS) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
CTS is one of 614 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #2 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 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. CTS is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for CTS' full-year earnings has moved 11.9% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, CTS has returned 35.3% so far this year. In comparison, Computer and Technology companies have returned an average of 15.8%. This means that CTS 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 DoubleVerify Holdings (DV). The stock has returned 16.2% year-to-date.
For DoubleVerify Holdings, the consensus EPS estimate for the current year has increased 7.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, CTS belongs to the Electronics - Miscellaneous Components industry, a group that includes 28 individual stocks and currently sits at #49 in the Zacks Industry Rank. On average, this group has lost an average of 15.9% so far this year, meaning that CTS is performing better in terms of year-to-date returns.
In contrast, DoubleVerify Holdings falls under the Internet - Software industry. Currently, this industry has 174 stocks and is ranked #89. Since the beginning of the year, the industry has moved -5%.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to CTS and DoubleVerify Holdings as they could maintain their solid performance.
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