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Is Adobe Systems (ADBE) Outperforming Other Computer and Technology Stocks This Year?

Zacks Equity Research

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? Let's take a closer look at the stock's year-to-date performance to find out.

Adobe Systems is one of 633 companies in the Computer and Technology group. The Computer and Technology group currently sits at #8 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader 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 1.40% 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 19.71% since the start of the calendar year. Meanwhile, the Computer and Technology sector has returned an average of 18.26% on a year-to-date basis. 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, a group that includes 47 individual stocks and currently sits at #70 in the Zacks Industry Rank. On average, this group has gained an average of 27.61% so far this year, meaning that ADBE is slightly underperforming its industry 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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