Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Is IHS Holding (IHS) one of those stocks right now? 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.
IHS Holding is one of 611 companies in the Computer and Technology group. The Computer and Technology group currently sits at #7 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. IHS Holding is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for IHS' full-year earnings has moved 30.9% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, IHS has moved about 57.5% on a year-to-date basis. At the same time, Computer and Technology stocks have lost an average of 14.5%. This means that IHS Holding is outperforming the sector as a whole this year.
One other Computer and Technology stock that has outperformed the sector so far this year is Okta (OKTA). The stock is up 29.2% year-to-date.
In Okta's case, the consensus EPS estimate for the current year increased 70.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, IHS Holding belongs to the Communication - Infrastructure industry, a group that includes 4 individual stocks and currently sits at #16 in the Zacks Industry Rank. On average, this group has gained an average of 1.3% so far this year, meaning that IHS is performing better in terms of year-to-date returns.
Okta, however, belongs to the Security industry. Currently, this 5-stock industry is ranked #72. The industry has moved +2.8% so far this year.
Investors with an interest in Computer and Technology stocks should continue to track IHS Holding and Okta. These stocks will be looking to continue their solid performance.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
IHS Holding Limited (IHS) : Free Stock Analysis Report
Okta, Inc. (OKTA) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.