Is CyberOptics (CYBE) Outperforming Other Computer and Technology Stocks This Year?
Investors focused on the Computer and Technology space have likely heard of CyberOptics (CYBE), but is the stock performing well in comparison to the rest of its sector peers? By taking a look at the stock’s year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
CyberOptics is one of 606 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #10 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 model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. CYBE is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for CYBE’s full-year earnings has moved 22.22% higher within the past quarter. This means that analyst sentiment is stronger and the stock’s earnings outlook is improving.
According to our latest data, CYBE has moved about 95.54% on a year-to-date basis. In comparison, Computer and Technology companies have returned an average of 14.81%. This means that CyberOptics is outperforming the sector as a whole this year.
Looking more specifically, CYBE belongs to the Lasers Systems and Components industry, which includes 6 individual stocks and currently sits at #39 in the Zacks Industry Rank. On average, this group has gained an average of 2.10% so far this year, meaning that CYBE 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 CYBE as it looks to continue its solid performance.
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