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Is Atlassian Corporation (TEAM) Outperforming Other Computer and Technology Stocks This Year?

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For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Atlassian Corporation (TEAM - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of TEAM and the rest of the Computer and Technology group's stocks.

Atlassian Corporation is a member of our Computer and Technology group, which includes 630 different companies and currently sits at #5 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. TEAM is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for TEAM's full-year earnings has moved 160.53% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Our latest available data shows that TEAM has returned about 3.88% since the start of the calendar year. At the same time, Computer and Technology stocks have lost an average of 18.95%. This means that Atlassian Corporation is outperforming the sector as a whole this year.

Looking more specifically, TEAM belongs to the Internet - Software industry, a group that includes 91 individual stocks and currently sits at #156 in the Zacks Industry Rank. On average, this group has lost an average of 14.81% 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.

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