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Is Adobe (ADBE) Outperforming Other Computer and Technology Stocks This Year?
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The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Adobe Systems (ADBE - Free Report) one of those stocks right now? 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.
Adobe Systems is one of 637 companies in the Computer and Technology group. The Computer and Technology group currently sits at #7 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Adobe Systems is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ADBE's full-year earnings has moved 2.5% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that ADBE has returned about 50% since the start of the calendar year. Meanwhile, stocks in the Computer and Technology group have gained about 36.6% on average. This means that Adobe Systems is performing better than its sector in terms of year-to-date returns.
One other Computer and Technology stock that has outperformed the sector so far this year is Cadence Design Systems (CDNS - Free Report) . The stock is up 44.3% year-to-date.
Over the past three months, Cadence Design Systems' consensus EPS estimate for the current year has increased 0.2%. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Adobe Systems belongs to the Computer - Software industry, a group that includes 39 individual companies and currently sits at #92 in the Zacks Industry Rank. On average, stocks in this group have gained 39.1% this year, meaning that ADBE is performing better in terms of year-to-date returns. Cadence Design Systems is also part of the same industry.
Investors with an interest in Computer and Technology stocks should continue to track Adobe Systems and Cadence Design Systems. These stocks will be looking to continue their solid performance.
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Is Adobe (ADBE) Outperforming Other Computer and Technology Stocks This Year?
The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Adobe Systems (ADBE - Free Report) one of those stocks right now? 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.
Adobe Systems is one of 637 companies in the Computer and Technology group. The Computer and Technology group currently sits at #7 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Adobe Systems is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ADBE's full-year earnings has moved 2.5% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that ADBE has returned about 50% since the start of the calendar year. Meanwhile, stocks in the Computer and Technology group have gained about 36.6% on average. This means that Adobe Systems is performing better than its sector in terms of year-to-date returns.
One other Computer and Technology stock that has outperformed the sector so far this year is Cadence Design Systems (CDNS - Free Report) . The stock is up 44.3% year-to-date.
Over the past three months, Cadence Design Systems' consensus EPS estimate for the current year has increased 0.2%. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Adobe Systems belongs to the Computer - Software industry, a group that includes 39 individual companies and currently sits at #92 in the Zacks Industry Rank. On average, stocks in this group have gained 39.1% this year, meaning that ADBE is performing better in terms of year-to-date returns. Cadence Design Systems is also part of the same industry.
Investors with an interest in Computer and Technology stocks should continue to track Adobe Systems and Cadence Design Systems. These stocks will be looking to continue their solid performance.