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? One simple way to answer this question is to take a look at the year-to-date performance of ADBE and the rest of the Computer and Technology group's stocks.
Adobe Systems is one of 660 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #6 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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 0.96% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, ADBE has returned 36.75% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 2.30% 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, which includes 51 individual stocks and currently sits at #101 in the Zacks Industry Rank. On average, stocks in this group have gained 19.58% this year, meaning that ADBE is performing better in terms of year-to-date returns.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to ADBE as it looks to continue its solid performance.