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Investors focused on the Computer and Technology space have likely heard of Allot Communications (ALLT), but is the stock performing well in comparison to the rest of its sector peers? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
Allot Communications is one of 613 companies in the Computer and Technology group. The Computer and Technology group currently sits at #4 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. ALLT is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ALLT's full-year earnings has moved 9.09% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, ALLT has returned 37.18% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 2.69% on a year-to-date basis. This means that Allot Communications is outperforming the sector as a whole this year.
Breaking things down more, ALLT is a member of the Computer - Networking industry, which includes 9 individual companies and currently sits at #56 in the Zacks Industry Rank. Stocks in this group have lost about 5.95% so far this year, so ALLT is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to ALLT as it looks to continue its solid performance.
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