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Is Akoustis Technologies (AKTS) Stock Outpacing Its Computer and Technology Peers This Year?

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Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Has Akoustis (AKTS - Free Report) been one of those stocks this year? 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.

Akoustis is one of 647 companies in the Computer and Technology group. The Computer and Technology group currently sits at #7 within 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 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. Akoustis is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for AKTS' full-year earnings has moved 8.6% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Based on the latest available data, AKTS has gained about 31.6% so far this year. In comparison, Computer and Technology companies have returned an average of 13.1%. As we can see, Akoustis is performing better than its sector in the calendar year.

Okta (OKTA - Free Report) is another Computer and Technology stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 23.2%.

In Okta's case, the consensus EPS estimate for the current year increased 4.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Akoustis belongs to the Semiconductors - Radio Frequency industry, a group that includes 4 individual stocks and currently sits at #190 in the Zacks Industry Rank. On average, stocks in this group have gained 18.4% this year, meaning that AKTS is performing better in terms of year-to-date returns.

On the other hand, Okta belongs to the Internet - Software and Services industry. This 12-stock industry is currently ranked #38. The industry has moved +11.7% year to date.

Investors interested in the Computer and Technology sector may want to keep a close eye on Akoustis and Okta as they attempt to continue their solid performance.

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