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Is Adobe (ADBE) 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. Is Adobe Systems (ADBE - Free Report) one of those stocks right now? 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.
Adobe Systems is a member of our Computer and Technology group, which includes 628 different companies and currently sits at #6 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. Adobe Systems 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 2% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that ADBE has returned about 54.9% since the start of the calendar year. Meanwhile, stocks in the Computer and Technology group have gained about 30.7% on average. This shows that Adobe Systems is outperforming its peers so far this year.
Another stock in the Computer and Technology sector, CrowdStrike Holdings (CRWD - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 66.6%.
The consensus estimate for CrowdStrike Holdings' current year EPS has increased 175.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Adobe Systems is a member of the Computer - Software industry, which includes 38 individual companies and currently sits at #80 in the Zacks Industry Rank. On average, this group has gained an average of 38.3% so far this year, meaning that ADBE is performing better in terms of year-to-date returns.
On the other hand, CrowdStrike Holdings belongs to the Internet - Software industry. This 148-stock industry is currently ranked #72. The industry has moved +40.4% year to date.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to Adobe Systems and CrowdStrike Holdings as they could maintain their solid performance.
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Is Adobe (ADBE) Outperforming Other Computer and Technology Stocks This Year?
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. Is Adobe Systems (ADBE - Free Report) one of those stocks right now? 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.
Adobe Systems is a member of our Computer and Technology group, which includes 628 different companies and currently sits at #6 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. Adobe Systems 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 2% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that ADBE has returned about 54.9% since the start of the calendar year. Meanwhile, stocks in the Computer and Technology group have gained about 30.7% on average. This shows that Adobe Systems is outperforming its peers so far this year.
Another stock in the Computer and Technology sector, CrowdStrike Holdings (CRWD - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 66.6%.
The consensus estimate for CrowdStrike Holdings' current year EPS has increased 175.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Adobe Systems is a member of the Computer - Software industry, which includes 38 individual companies and currently sits at #80 in the Zacks Industry Rank. On average, this group has gained an average of 38.3% so far this year, meaning that ADBE is performing better in terms of year-to-date returns.
On the other hand, CrowdStrike Holdings belongs to the Internet - Software industry. This 148-stock industry is currently ranked #72. The industry has moved +40.4% year to date.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to Adobe Systems and CrowdStrike Holdings as they could maintain their solid performance.