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 627 companies in the Computer and Technology group. The Computer and Technology group currently sits at #3 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. ADBE is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for ADBE's full-year earnings has moved 4.86% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, ADBE has gained about 44.53% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 10.11% on average. This means that Adobe Systems is performing better than its sector in terms of year-to-date returns.
Looking more specifically, ADBE belongs to the Computer - Software industry, a group that includes 51 individual stocks and currently sits at #89 in the Zacks Industry Rank. This group has gained an average of 21.55% so far this year, so ADBE is performing better in this area.
Investors with an interest in Computer and Technology stocks should continue to track ADBE. The stock will be looking to continue its solid performance.