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Is AudioCodes (AUDC) Outperforming Other Computer and Technology Stocks This Year?
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The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is AudioCodes (AUDC - Free Report) 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 a member of our Computer and Technology group, which includes 627 different companies and currently sits at #5 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 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 24.24% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, AUDC has gained about 28.53% so far this year. At the same time, Computer and Technology stocks have gained an average of 11.14%. This means that AudioCodes is outperforming the sector as a whole this year.
To break things down more, AUDC belongs to the Communication - Components industry, a group that includes 24 individual companies and currently sits at #18 in the Zacks Industry Rank. On average, this group has gained an average of 7.66% so far this year, meaning that AUDC is performing better 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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Is AudioCodes (AUDC) Outperforming Other Computer and Technology Stocks This Year?
The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is AudioCodes (AUDC - Free Report) 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 a member of our Computer and Technology group, which includes 627 different companies and currently sits at #5 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 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 24.24% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, AUDC has gained about 28.53% so far this year. At the same time, Computer and Technology stocks have gained an average of 11.14%. This means that AudioCodes is outperforming the sector as a whole this year.
To break things down more, AUDC belongs to the Communication - Components industry, a group that includes 24 individual companies and currently sits at #18 in the Zacks Industry Rank. On average, this group has gained an average of 7.66% so far this year, meaning that AUDC is performing better 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.