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Has Atlassian Corporation (TEAM) Outpaced Other Computer and Technology Stocks This Year?

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Investors focused on the Computer and Technology space have likely heard of Atlassian Corporation (TEAM - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of TEAM and the rest of the Computer and Technology group's stocks.

Atlassian Corporation is a member of our Computer and Technology group, which includes 594 different companies and currently sits at #5 in 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. TEAM is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for TEAM's full-year earnings has moved 38.10% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Based on the latest available data, TEAM has gained about 79.90% so far this year. In comparison, Computer and Technology companies have returned an average of 4.09%. This means that Atlassian Corporation is performing better than its sector in terms of year-to-date returns.

To break things down more, TEAM belongs to the Internet - Software industry, a group that includes 75 individual companies and currently sits at #51 in the Zacks Industry Rank. This group has gained an average of 8.04% so far this year, so TEAM is performing better in this area.

Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to TEAM as it looks to continue its solid performance.




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