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? Let's take a closer look at the stock's year-to-date performance to find out.
Atlassian Corporation is a member of the Computer and Technology sector. This group includes 630 individual stocks and currently holds a Zacks Sector Rank of #4. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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 #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for TEAM's full-year earnings has moved 160.53% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that TEAM has returned about 20.06% since the start of the calendar year. Meanwhile, the Computer and Technology sector has returned an average of 0.42% on a year-to-date basis. As we can see, Atlassian Corporation is performing better than its sector in the calendar year.
Breaking things down more, TEAM is a member of the Internet - Software industry, which includes 91 individual companies and currently sits at #112 in the Zacks Industry Rank. On average, this group has gained an average of 8.07% so far this year, meaning that TEAM is performing better in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track TEAM. The stock will be looking to continue its solid performance.