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Is ADEIA INC (ADEA) Stock Outpacing Its Business Services Peers This Year?

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Investors interested in Business Services stocks should always be looking to find the best-performing companies in the group. Is Adeia (ADEA - Free Report) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Business Services sector should help us answer this question.

Adeia is a member of our Business Services group, which includes 333 different companies and currently sits at #10 in 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 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. Adeia is currently sporting a Zacks Rank of #1 (Strong Buy).

Within the past quarter, the Zacks Consensus Estimate for ADEA's full-year earnings has moved 67.5% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Our latest available data shows that ADEA has returned about 9% since the start of the calendar year. Meanwhile, stocks in the Business Services group have gained about 7.4% on average. This shows that Adeia is outperforming its peers so far this year.

Another Business Services stock, which has outperformed the sector so far this year, is BlackSky Technology Inc. (BKSY - Free Report) . The stock has returned 17.5% year-to-date.

For BlackSky Technology Inc. the consensus EPS estimate for the current year has increased 4.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

To break things down more, Adeia belongs to the Technology Services industry, a group that includes 192 individual companies and currently sits at #101 in the Zacks Industry Rank. Stocks in this group have gained about 15.8% so far this year, so ADEA is slightly underperforming its industry this group in terms of year-to-date returns. BlackSky Technology Inc. is also part of the same industry.

Investors with an interest in Business Services stocks should continue to track Adeia and BlackSky Technology Inc. These stocks will be looking to continue their solid performance.


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