April 11, 2021

glimworm

Advances in world technology

Has ORBCOMM (ORBC) Outpaced 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. Is ORBCOMM (ORBC) one of those stocks right now? A quick glance at the company’s year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.

ORBCOMM is one of 632 companies in the Computer and Technology group. The Computer and Technology group currently sits at #8 within the Zacks Sector Rank. 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. ORBC is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for ORBC’s full-year earnings has moved 20.99% higher. This means that analyst sentiment is stronger and the stock’s earnings outlook is improving.

Based on the latest available data, ORBC has gained about 20.08% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 2.36% on a year-to-date basis. This means that ORBCOMM is performing better than its sector in terms of year-to-date returns.

Looking more specifically, ORBC belongs to the Satellite and Communication industry, a group that includes 10 individual stocks and currently sits at #192 in the Zacks Industry Rank. On average, stocks in this group have gained 2.82% this year, meaning that ORBC is performing better in terms of year-to-date returns.

Investors with an interest in Computer and Technology stocks should continue to track ORBC. The stock will be looking to continue its 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
 
ORBCOMM Inc. (ORBC): Free Stock Analysis Report
 
To read this article on Zacks.com click here.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.