Is Check Point Software Technologies (CHKP) Stock Outpacing Its Computer and Technology Peers This Year?

Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Has Check Point Software (CHKP) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.Check Point Software is a member of the Computer and Technology sector. This group includes 609 individual stocks and currently holds a Zacks Sector Rank of #6. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Check Point Software is currently sporting a Zacks Rank of #2 (Buy).Over the past 90 days, the Zacks Consensus Estimate for CHKP's full-year earnings has moved 0.9% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.Based on the most recent data, CHKP has returned 15.1% so far this year. Meanwhile, stocks in the Computer and Technology group have lost about 17.1% on average. This means that Check Point Software is performing better than its sector in terms of year-to-date returns.Ericsson (ERIC) is another Computer and Technology stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 1.4%.For Ericsson, the consensus EPS estimate for the current year has increased 14.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).Looking more specifically, Check Point Software belongs to the Security industry, which includes 5 individual stocks and currently sits at #73 in the Zacks Industry Rank. This group has gained an average of 1.7% so far this year, so CHKP is performing better in this area.Ericsson, however, belongs to the Wireless Equipment industry. Currently, this 12-stock industry is ranked #35. The industry has moved -3.1% so far this year.Investors interested in the Computer and Technology sector may want to keep a close eye on Check Point Software and Ericsson as they attempt to continue their solid performance.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>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 Check Point Software Technologies Ltd. (CHKP): Free Stock Analysis Report Ericsson (ERIC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks