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Is Adobe Systems (ADBE) Stock Outpacing Its Computer and Technology Peers This Year?

Zacks Equity Research

The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Adobe Systems (ADBE) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

Adobe Systems is one of 630 companies in the Computer and Technology group. The Computer and Technology group currently sits at #2 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 three months, the Zacks Consensus Estimate for ADBE's full-year earnings has moved 0.24% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

According to our latest data, ADBE has moved about 8.17% on a year-to-date basis. In comparison, Computer and Technology companies have returned an average of 5.26%. This shows that Adobe Systems is outperforming its peers so far this year.

Looking more specifically, ADBE belongs to the Computer - Software industry, a group that includes 43 individual stocks and currently sits at #54 in the Zacks Industry Rank. On average, stocks in this group have gained 7.71% this year, meaning that ADBE is performing better in terms of year-to-date returns.

Investors in the Computer and Technology sector will want to keep a close eye on ADBE as it attempts to continue its solid performance.


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