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Is AudioCodes (AUDC) Stock Outpacing Its Computer and Technology Peers This Year?

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Zacks Equity Research
·2 min read
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Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. AudioCodes (AUDC) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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 a member of our Computer and Technology group, which includes 615 different companies and currently sits at #7 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.

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. AUDC is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for AUDC's full-year earnings has moved 7.92% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Based on the most recent data, AUDC has returned 6.07% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 37.01% 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 20 individual stocks and currently sits at #71 in the Zacks Industry Rank. On average, this group has gained an average of 24.48% so far this year, meaning that AUDC is slightly underperforming its industry in terms of year-to-date returns.

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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