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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 (ADBE) 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? One simple way to answer this question is to take a look at the year-to-date performance of ADBE and the rest of the Computer and Technology group's stocks.
Adobe is a member of the Computer and Technology sector. This group includes 646 individual stocks and currently holds a Zacks Sector Rank of #6. 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 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. ADBE is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ADBE's full-year earnings has moved 2.39% 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 24.54% so far this year. In comparison, Computer and Technology companies have returned an average of 23.63%. This means that Adobe is outperforming the sector as a whole this year.
Looking more specifically, ADBE belongs to the Computer - Software industry, a group that includes 38 individual stocks and currently sits at #151 in the Zacks Industry Rank. Stocks in this group have gained about 34.19% so far this year, so ADBE is slightly underperforming its industry this group in terms of year-to-date returns.
ADBE will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company.
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Adobe Inc. (ADBE) : Free Stock Analysis Report
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