Investors focused on the Computer and Technology space have likely heard of Akamai Technologies (AKAM), but is the stock performing well in comparison to the rest of its sector peers? 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 615 companies in the Computer and Technology group. The Computer and Technology group currently sits at #3 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 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. AKAM is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for AKAM's full-year earnings has moved 4.07% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, AKAM has gained about 18.38% so far this year. At the same time, Computer and Technology stocks have lost an average of 6.60%. This means that Akamai Technologies is outperforming the sector as a whole this year.
Looking more specifically, AKAM belongs to the Internet - Services industry, which includes 49 individual stocks and currently sits at #40 in the Zacks Industry Rank. On average, stocks in this group have lost 5.14% this year, meaning that AKAM is performing better in terms of year-to-date returns.
AKAM will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company.
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