June 19, 2024


Super Technology

Has NetEase (NTES) Outpaced Other Computer and Technology Stocks This Year?

Investors focused on the Computer and Technology space have likely heard of NetEase (NTES), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of NTES and the rest of the Computer and Technology group’s stocks.

NetEase is one of 602 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #7 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. NTES is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for NTES’s full-year earnings has moved 3.80% higher. This means that analyst sentiment is stronger and the stock’s earnings outlook is improving.

Based on the most recent data, NTES has returned 55.71% so far this year. In comparison, Computer and Technology companies have returned an average of 23.92%. This means that NetEase is performing better than its sector in terms of year-to-date returns.

Breaking things down more, NTES is a member of the Internet – Software and Services industry, which includes 17 individual companies and currently sits at #222 in the Zacks Industry Rank. On average, stocks in this group have gained 28.98% this year, meaning that NTES is performing better in terms of year-to-date returns.

Investors with an interest in Computer and Technology stocks should continue to track NTES. The stock will be looking to continue its solid performance.

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