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 one of 629 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #7 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 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).
Over the past three months, the Zacks Consensus Estimate for ADBE's full-year earnings has moved 1.46% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, ADBE has returned 27.87% so far this year. In comparison, Computer and Technology companies have returned an average of 27.21%. As we can see, Adobe Systems is performing better than its sector in the calendar year.
Breaking things down more, ADBE is a member of the Computer - Software industry, which includes 46 individual companies and currently sits at #30 in the Zacks Industry Rank. On average, stocks in this group have gained 39.97% this year, meaning that ADBE is slightly underperforming its industry 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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