Investors focused on the Computer and Technology space have likely heard of Adobe Systems (ADBE - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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.
Adobe Systems is one of 632 companies in the Computer and Technology group. The Computer and Technology group currently sits at #8 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. ADBE 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 2.28% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, ADBE has moved about 36.03% on a year-to-date basis. Meanwhile, the Computer and Technology sector has returned an average of 6.19% on a year-to-date basis. This means that Adobe Systems is outperforming the sector as a whole this year.
Breaking things down more, ADBE is a member of the Computer - Software industry, which includes 51 individual companies and currently sits at #63 in the Zacks Industry Rank. On average, this group has gained an average of 13.27% so far this year, meaning that ADBE is performing better in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track ADBE. The stock will be looking to continue its solid performance.