Investors focused on the Computer and Technology space have likely heard of Atlassian Corporation (TEAM), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of TEAM and the rest of the Computer and Technology group's stocks.
Atlassian Corporation is one of 631 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #2 in 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. TEAM is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for TEAM's full-year earnings has moved 164.68% 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, TEAM has gained about 22.15% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 2.97% on average. This means that Atlassian Corporation is outperforming the sector as a whole this year.
To break things down more, TEAM belongs to the Internet - Software industry, a group that includes 92 individual companies and currently sits at #101 in the Zacks Industry Rank. This group has gained an average of 10.81% so far this year, so TEAM is performing better in this area.
Investors with an interest in Computer and Technology stocks should continue to track TEAM. The stock will be looking to continue its solid performance.
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