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 a member of the Computer and Technology sector. This group includes 629 individual stocks and currently holds a Zacks Sector Rank of #6. 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. 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 3.82% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, AKAM has gained about 45.20% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 29.82% on a year-to-date basis. As we can see, Akamai Technologies is performing better than its sector in the calendar year.
Looking more specifically, AKAM belongs to the Internet - Services industry, which includes 54 individual stocks and currently sits at #84 in the Zacks Industry Rank. Stocks in this group have gained about 9.26% so far this year, so AKAM is performing better this group in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on AKAM as it attempts to continue its solid performance.