For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Akamai Technologies (AKAM) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Akamai Technologies is a member of the Computer and Technology sector. This group includes 618 individual stocks and currently holds a Zacks Sector Rank of #4. 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. AKAM is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for AKAM's full-year earnings has moved 4.19% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, AKAM has returned 7.80% so far this year. Meanwhile, stocks in the Computer and Technology group have lost about 14.23% on average. As we can see, Akamai Technologies is performing better than its sector in the calendar year.
Breaking things down more, AKAM is a member of the Internet - Services industry, which includes 49 individual companies and currently sits at #44 in the Zacks Industry Rank. This group has lost an average of 18.03% so far this year, so AKAM is performing better in this area.
Investors in the Computer and Technology sector will want to keep a close eye on AKAM as it attempts to continue its solid performance.
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