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Is Adobe (ADBE) Outperforming Other Computer and Technology Stocks This Year?
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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. Adobe Systems (ADBE - Free Report) 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.
Adobe Systems is one of 623 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #6 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 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. Adobe Systems is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ADBE's full-year earnings has moved 2.3% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, ADBE has returned 73.7% so far this year. At the same time, Computer and Technology stocks have gained an average of 50%. This means that Adobe Systems is performing better than its sector in terms of year-to-date returns.
One other Computer and Technology stock that has outperformed the sector so far this year is Datadog (DDOG - Free Report) . The stock is up 66.8% year-to-date.
The consensus estimate for Datadog's current year EPS has increased 6700% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Adobe Systems belongs to the Computer - Software industry, a group that includes 36 individual stocks and currently sits at #79 in the Zacks Industry Rank. This group has gained an average of 52.9% so far this year, so ADBE is performing better in this area.
In contrast, Datadog falls under the Internet - Software industry. Currently, this industry has 147 stocks and is ranked #26. Since the beginning of the year, the industry has moved +65.6%.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to Adobe Systems and Datadog as they could maintain their solid performance.
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Is Adobe (ADBE) Outperforming Other Computer and Technology Stocks This Year?
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. Adobe Systems (ADBE - Free Report) 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.
Adobe Systems is one of 623 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #6 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 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. Adobe Systems is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ADBE's full-year earnings has moved 2.3% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, ADBE has returned 73.7% so far this year. At the same time, Computer and Technology stocks have gained an average of 50%. This means that Adobe Systems is performing better than its sector in terms of year-to-date returns.
One other Computer and Technology stock that has outperformed the sector so far this year is Datadog (DDOG - Free Report) . The stock is up 66.8% year-to-date.
The consensus estimate for Datadog's current year EPS has increased 6700% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Adobe Systems belongs to the Computer - Software industry, a group that includes 36 individual stocks and currently sits at #79 in the Zacks Industry Rank. This group has gained an average of 52.9% so far this year, so ADBE is performing better in this area.
In contrast, Datadog falls under the Internet - Software industry. Currently, this industry has 147 stocks and is ranked #26. Since the beginning of the year, the industry has moved +65.6%.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to Adobe Systems and Datadog as they could maintain their solid performance.