We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Is Aspen Technology (AZPN) Stock Outpacing Its Computer and Technology Peers This Year?
Read MoreHide Full Article
For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Aspen Technology (AZPN - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
Aspen Technology is a member of the Computer and Technology sector. This group includes 662 individual stocks and currently holds a Zacks Sector Rank of #8. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. Aspen Technology is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for AZPN's full-year earnings has moved 17.9% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, AZPN has returned 42.2% so far this year. Meanwhile, the Computer and Technology sector has returned an average of -19.5% on a year-to-date basis. This means that Aspen Technology is outperforming the sector as a whole this year.
Cadence Design Systems (CDNS - Free Report) 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 1.3%.
For Cadence Design Systems, the consensus EPS estimate for the current year has increased 5.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Aspen Technology is a member of the Internet - Software industry, which includes 147 individual companies and currently sits at #135 in the Zacks Industry Rank. On average, this group has lost an average of 43.2% so far this year, meaning that AZPN is performing better in terms of year-to-date returns.
In contrast, Cadence Design Systems falls under the Computer - Software industry. Currently, this industry has 38 stocks and is ranked #149. Since the beginning of the year, the industry has moved -15.3%.
Investors interested in the Computer and Technology sector may want to keep a close eye on Aspen Technology and Cadence Design Systems as they attempt to continue their solid performance.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Is Aspen Technology (AZPN) Stock Outpacing Its Computer and Technology Peers This Year?
For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Aspen Technology (AZPN - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
Aspen Technology is a member of the Computer and Technology sector. This group includes 662 individual stocks and currently holds a Zacks Sector Rank of #8. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. Aspen Technology is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for AZPN's full-year earnings has moved 17.9% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, AZPN has returned 42.2% so far this year. Meanwhile, the Computer and Technology sector has returned an average of -19.5% on a year-to-date basis. This means that Aspen Technology is outperforming the sector as a whole this year.
Cadence Design Systems (CDNS - Free Report) 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 1.3%.
For Cadence Design Systems, the consensus EPS estimate for the current year has increased 5.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Aspen Technology is a member of the Internet - Software industry, which includes 147 individual companies and currently sits at #135 in the Zacks Industry Rank. On average, this group has lost an average of 43.2% so far this year, meaning that AZPN is performing better in terms of year-to-date returns.
In contrast, Cadence Design Systems falls under the Computer - Software industry. Currently, this industry has 38 stocks and is ranked #149. Since the beginning of the year, the industry has moved -15.3%.
Investors interested in the Computer and Technology sector may want to keep a close eye on Aspen Technology and Cadence Design Systems as they attempt to continue their solid performance.