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? 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 a member of the Computer and Technology sector. This group includes 641 individual stocks and currently holds a Zacks Sector Rank of #6. 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. ADBE is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ADBE's full-year earnings has moved 0.48% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that ADBE has returned about 18.33% since the start of the calendar year. Meanwhile, stocks in the Computer and Technology group have gained about 15.30% on average. As we can see, Adobe Systems is performing better than its sector in the calendar year.
To break things down more, ADBE belongs to the Computer - Software industry, a group that includes 48 individual companies and currently sits at #40 in the Zacks Industry Rank. Stocks in this group have gained about 21.21% so far this year, so ADBE is slightly underperforming its industry this group 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.