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) 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 Systems is one of 630 companies in the Computer and Technology group. The Computer and Technology group currently sits at #4 within 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 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 90 days, the Zacks Consensus Estimate for ADBE's full-year earnings has moved 0.16% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, ADBE has returned 4.49% so far this year. In comparison, Computer and Technology companies have returned an average of 4.42%. This means that Adobe Systems is performing better than its sector in terms of year-to-date returns.
Looking more specifically, ADBE belongs to the Computer - Software industry, which includes 43 individual stocks and currently sits at #93 in the Zacks Industry Rank. On average, this group has gained an average of 3.73% so far this year, meaning that ADBE is performing better in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track ADBE. The stock will be looking to continue its solid performance.
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