Investors focused on the Computer and Technology space have likely heard of Inseego (INSG), but is the stock performing well in comparison to the rest of its sector peers? 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.
Inseego is one of 606 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #8 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. INSG is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for INSG’s full-year earnings has moved 12% higher. This means that analyst sentiment is stronger and the stock’s earnings outlook is improving.
Based on the latest available data, INSG has gained about 55.94% so far this year. In comparison, Computer and Technology companies have returned an average of 15.46%. This means that Inseego is outperforming the sector as a whole this year.
Breaking things down more, INSG is a member of the Internet – Software industry, which includes 91 individual companies and currently sits at #52 in the Zacks Industry Rank. On average, this group has gained an average of 53.37% so far this year, meaning that INSG 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 INSG as it attempts to continue its solid performance.
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