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Is Absolute Software (ABST) 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. Has Absolute Software Corporation (ABST) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

Absolute Software Corporation is a member of our Computer and Technology group, which includes 660 different companies and currently sits at #8 in the Zacks Sector Rank. 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 proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Absolute Software Corporation is currently sporting a Zacks Rank of #1 (Strong Buy).

Within the past quarter, the Zacks Consensus Estimate for ABST's full-year earnings has moved 487.5% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Based on the latest available data, ABST has gained about 25.9% so far this year. Meanwhile, stocks in the Computer and Technology group have lost about 34.6% on average. As we can see, Absolute Software Corporation is performing better than its sector in the calendar year.

Another stock in the Computer and Technology sector, Evolent Health (EVH), has outperformed the sector so far this year. The stock's year-to-date return is 33.8%.

The consensus estimate for Evolent Health's current year EPS has increased 243.8% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

To break things down more, Absolute Software Corporation belongs to the Security industry, a group that includes 7 individual companies and currently sits at #66 in the Zacks Industry Rank. This group has lost an average of 16.9% so far this year, so ABST is performing better in this area.

Evolent Health, however, belongs to the Internet - Software industry. Currently, this 154-stock industry is ranked #89. The industry has moved -55.2% so far this year.

Investors with an interest in Computer and Technology stocks should continue to track Absolute Software Corporation and Evolent Health. These stocks will be looking to continue their solid performance.

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Zacks Investment Research