May 21, 2024


Super Technology

Is Hewlett Packard Enterprise (HPE) Outperforming Other Computer and Technology Stocks This Year?

Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Has Hewlett Packard Enterprise (HPE) been one of those stocks this year? Let’s take a closer look at the stock’s year-to-date performance to find out.

Hewlett Packard Enterprise is a member of the Computer and Technology sector. This group includes 648 individual stocks and currently holds a Zacks Sector Rank of #7. 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. Hewlett Packard Enterprise is currently sporting a Zacks Rank of #1 (Strong Buy).

The Zacks Consensus Estimate for HPE’s full-year earnings has moved 31.7% 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, HPE has moved about 26.5% on a year-to-date basis. At the same time, Computer and Technology stocks have gained an average of 23.9%. As we can see, Hewlett Packard Enterprise is performing better than its sector in the calendar year.

One other Computer and Technology stock that has outperformed the sector so far this year is Bruker (BRKR). The stock is up 50.2% year-to-date.

In Bruker’s case, the consensus EPS estimate for the current year increased 8.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Breaking things down more, Hewlett Packard Enterprise is a member of the Computer – Integrated Systems industry, which includes 8 individual companies and currently sits at #232 in the Zacks Industry Rank. This group has gained an average of 3.9% so far this year, so HPE is performing better in this area.

In contrast, Bruker falls under the Instruments – Scientific industry. Currently, this industry has 6 stocks and is ranked #84. Since the beginning of the year, the industry has moved +33.9%.

Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to Hewlett Packard Enterprise and Bruker as they could maintain their solid performance.

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Hewlett Packard Enterprise Company (HPE) : Free Stock Analysis Report
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