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Is Hewlett Packard Enterprise (HPE) Stock Outpacing Its Computer and Technology Peers This Year?

Zacks Equity Research

Investors focused on the Computer and Technology space have likely heard of Hewlett Packard Enterprise (HPE), but is the stock performing well in comparison to the rest of its sector peers? 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.

Hewlett Packard Enterprise is one of 641 companies in the Computer and Technology group. The Computer and Technology group currently sits at #6 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. HPE is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for HPE's full-year earnings has moved 4.46% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

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Based on the latest available data, HPE has gained about 23.16% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 20.73% on a year-to-date basis. This means that Hewlett Packard Enterprise is outperforming the sector as a whole this year.

Looking more specifically, HPE belongs to the Computer - Integrated Systems industry, a group that includes 9 individual stocks and currently sits at #49 in the Zacks Industry Rank. On average, stocks in this group have gained 28.97% this year, meaning that HPE is slightly underperforming its industry in terms of year-to-date returns.

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


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