May 19, 2024


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Is Cambium Networks (CMBM) 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 Cambium Networks (CMBM) been one of those stocks this year? 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.

Cambium Networks is one of 619 companies in the Computer and Technology group. The Computer and Technology group currently sits at #11 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. CMBM is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past three months, the Zacks Consensus Estimate for CMBM’s full-year earnings has moved 15.56% higher. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.

Based on the latest available data, CMBM has gained about 95.46% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 13.71% on a year-to-date basis. This shows that Cambium Networks is outperforming its peers so far this year.

To break things down more, CMBM belongs to the Wireless National industry, a group that includes 9 individual companies and currently sits at #44 in the Zacks Industry Rank. This group has gained an average of 3.94% so far this year, so CMBM is performing better in this area.

Investors in the Computer and Technology sector will want to keep a close eye on CMBM as it attempts to continue its solid performance.

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