Investors focused on the Computer and Technology space have likely heard of Akamai Technologies (AKAM - 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.
Akamai Technologies is one of 633 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #8 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 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. AKAM is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for AKAM's full-year earnings has moved 2.67% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, AKAM has gained about 47.13% so far this year. At the same time, Computer and Technology stocks have gained an average of 18.39%. This means that Akamai Technologies is outperforming the sector as a whole this year.
Looking more specifically, AKAM belongs to the Internet - Services industry, which includes 54 individual stocks and currently sits at #160 in the Zacks Industry Rank. Stocks in this group have lost about 1.76% so far this year, so AKAM is performing better 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 AKAM as it looks to continue its solid performance.