Investors focused on the Computer and Technology space have likely heard of Akamai Technologies (NASDAQ:AKAM), 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 631 individual stocks and currently holds a Zacks Sector Rank of #8. 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. AKAM is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for AKAM's full-year earnings has moved 2.48% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, AKAM has moved about 46.66% on a year-to-date basis. Meanwhile, the Computer and Technology sector has returned an average of 23.20% on a year-to-date basis. This shows that Akamai Technologies is outperforming its peers so far this year.
Looking more specifically, AKAM belongs to the Internet - Services industry, a group that includes 54 individual stocks and currently sits at #148 in the Zacks Industry Rank. On average, this group has gained an average of 4.92% so far this year, meaning that AKAM is performing better 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.
Akamai Technologies, Inc. (AKAM): Free Stock Analysis Report
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