Yahoo Finance Is Adobe Systems (ADBE) Outperforming Other Computer and Technology Stocks This Year?
Investors focused on the Computer and Technology space have likely heard of Adobe Systems (ADBE), 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.
Adobe Systems is one of 594 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #5 in 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 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. ADBE is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ADBE's full-year earnings has moved 0.96% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, ADBE has returned 42.86% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 4.09% on a year-to-date basis. This shows that Adobe Systems is outperforming its peers so far this year.
Breaking things down more, ADBE is a member of the Computer - Software industry, which includes 42 individual companies and currently sits at #90 in the Zacks Industry Rank. Stocks in this group have gained about 20.78% so far this year, so ADBE is performing better this group in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track ADBE. The stock will be looking to continue its solid performance.
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