Investors interested in computer and technology stocks should always be looking for the best performing companies in the group. There is ServiceNow (just now – Free report) is one of the stocks this year? Let’s take a closer look at the stock’s year-to-date performance to find out.
ServiceNow is one of 612 companies in the Computer and Technology Group. The computer and technology group currently ranks 12th in the Zacks Division Ranking. The Zacks department ranking includes 16 different groups and is listed in order from best to worst for each company’s average Zacks ranking in each department.
The Zacks Rank is an effective system that emphasizes earnings estimates and estimate revisions, highlighting various stocks that have the right characteristics to beat the market in the next one to three months. NOW’s current Zacks Rank is #2 (Buy).
In the past quarter, the Zacks Consensus for Naws for the whole year is estimated to have increased by 0.60%. This shows that analyst sentiment is improving and the stock’s earnings outlook is more optimistic.
According to our latest data, NOW has risen by about 77.04% since the beginning of the year. Meanwhile, computer and technology stocks rose an average of 26.26%. As we have seen, ServiceNow performed better than its industry in the calendar year.
In order to further subdivide, NOW belongs to the computer-IT service industry, which includes 32 independent companies and currently ranks 115th in the Zacks Industry Ranking. So far this year, this group has grown by an average of 28.14%, which means that NOW has performed better in terms of year-to-date returns.
Now it may continue to maintain a stable performance, so investors interested in computer and technology stocks should continue to pay close attention to the company.
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