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Has Adobe Systems (ADBE) Outpaced Other Computer and Technology Stocks This Year?

Zacks Equity Research
Qualcomm (QCOM) closed at $72.55 in the latest trading session, marking a -0.83% move from the prior day.

Investors focused on the Computer and Technology space have likely heard of Adobe Systems (ADBE), but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.

Adobe Systems is a member of the Computer and Technology sector. This group includes 641 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 system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. ADBE is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for ADBE's full-year earnings has moved 0.48% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Our latest available data shows that ADBE has returned about 18.33% since the start of the calendar year. Meanwhile, stocks in the Computer and Technology group have gained about 15.30% on average. As we can see, Adobe Systems is performing better than its sector in the calendar year.

To break things down more, ADBE belongs to the Computer - Software industry, a group that includes 48 individual companies and currently sits at #40 in the Zacks Industry Rank. Stocks in this group have gained about 21.21% so far this year, so ADBE is slightly underperforming its industry this group in terms of year-to-date returns.

Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to ADBE as it looks to continue its solid performance.

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