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Is Adobe (ADBE) Stock Outpacing Its Computer and Technology Peers 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. Adobe Systems (ADBE - 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.
Adobe Systems is one of 625 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #4 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 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).
Over the past 90 days, the Zacks Consensus Estimate for ADBE's full-year earnings has moved 2% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, ADBE has gained about 77.5% so far this year. At the same time, Computer and Technology stocks have gained an average of 42.2%. This means that Adobe Systems is outperforming the sector as a whole this year.
IonQ, Inc. (IONQ - 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 209%.
The consensus estimate for IonQ, Inc.'s current year EPS has increased 59.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Adobe Systems belongs to the Computer - Software industry, a group that includes 37 individual companies and currently sits at #78 in the Zacks Industry Rank. Stocks in this group have gained about 51.6% so far this year, so ADBE is performing better this group in terms of year-to-date returns.
In contrast, IonQ, Inc. falls under the Computer - Integrated Systems industry. Currently, this industry has 10 stocks and is ranked #53. Since the beginning of the year, the industry has moved +6.1%.
Investors interested in the Computer and Technology sector may want to keep a close eye on Adobe Systems and IonQ, Inc. as they attempt to continue their solid performance.
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Is Adobe (ADBE) Stock Outpacing Its Computer and Technology Peers 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. Adobe Systems (ADBE - 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.
Adobe Systems is one of 625 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #4 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 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).
Over the past 90 days, the Zacks Consensus Estimate for ADBE's full-year earnings has moved 2% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, ADBE has gained about 77.5% so far this year. At the same time, Computer and Technology stocks have gained an average of 42.2%. This means that Adobe Systems is outperforming the sector as a whole this year.
IonQ, Inc. (IONQ - 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 209%.
The consensus estimate for IonQ, Inc.'s current year EPS has increased 59.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Adobe Systems belongs to the Computer - Software industry, a group that includes 37 individual companies and currently sits at #78 in the Zacks Industry Rank. Stocks in this group have gained about 51.6% so far this year, so ADBE is performing better this group in terms of year-to-date returns.
In contrast, IonQ, Inc. falls under the Computer - Integrated Systems industry. Currently, this industry has 10 stocks and is ranked #53. Since the beginning of the year, the industry has moved +6.1%.
Investors interested in the Computer and Technology sector may want to keep a close eye on Adobe Systems and IonQ, Inc. as they attempt to continue their solid performance.