Investors focused on the Computer and Technology space have likely heard of AudioCodes (AUDC), 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.
AudioCodes is one of 626 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #3 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 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. AUDC is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for AUDC's full-year earnings has moved 24.24% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, AUDC has moved about 45.79% on a year-to-date basis. Meanwhile, the Computer and Technology sector has returned an average of 10.45% on a year-to-date basis. This means that AudioCodes is outperforming the sector as a whole this year.
Looking more specifically, AUDC belongs to the Communication - Components industry, which includes 24 individual stocks and currently sits at #63 in the Zacks Industry Rank. This group has gained an average of 8.50% so far this year, so AUDC is performing better in this area.
Investors with an interest in Computer and Technology stocks should continue to track AUDC. The stock will be looking to continue its solid performance.
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