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Has AudioCodes (AUDC) Outpaced Other Computer and Technology Stocks This Year?

Zacks Equity Research
·2 min read

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. Is AudioCodes (AUDC) one of those stocks right now? 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.

AudioCodes is one of 615 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #7 in 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 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).

Within the past quarter, the Zacks Consensus Estimate for AUDC's full-year earnings has moved 7.92% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

According to our latest data, AUDC has moved about 9.97% on a year-to-date basis. Meanwhile, stocks in the Computer and Technology group have gained about 31.45% on average. As we can see, AudioCodes is performing better than its sector in the calendar year.

Breaking things down more, AUDC is a member of the Communication - Components industry, which includes 20 individual companies and currently sits at #69 in the Zacks Industry Rank. On average, stocks in this group have gained 22.72% this year, meaning that AUDC is slightly underperforming its industry in terms of year-to-date returns.

Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to AUDC as it looks to continue its solid performance.


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