Is Akamai Technologies (AKAM) Outperforming Other Computer and Technology Stocks This Year?
The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Akamai Technologies (AKAM) 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? 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.
Akamai Technologies is one of 627 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #4 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. AKAM is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for AKAM's full-year earnings has moved 4.13% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, AKAM has moved about 2.37% on a year-to-date basis. At the same time, Computer and Technology stocks have lost an average of 17.79%. This means that Akamai Technologies is outperforming the sector as a whole this year.
To break things down more, AKAM belongs to the Internet - Services industry, a group that includes 49 individual companies and currently sits at #78 in the Zacks Industry Rank. Stocks in this group have lost about 19.56% so far this year, so AKAM is performing better this group in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track AKAM. The stock will be looking to continue its solid performance.
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