Has Akamai Technologies (AKAM) Outpaced Other Computer and Technology Stocks This Year?

Has Akamai Technologies (AKAM) Outpaced Other Computer and Technology Stocks This Year?

Image result for Has Akamai Technologies (AKAM) Outpaced Other Computer and Technology Stocks This Year?Investors focused on the Computer and Technology space have likely heard of Akamai Technologies (AKAM), but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company’s year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.

Akamai Technologies is a member of our Computer and Technology group, which includes 629 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 system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. AKAM is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for AKAM’s full-year earnings has moved 4.33% higher. This means that analyst sentiment is stronger and the stock’s earnings outlook is improving.

Based on the most recent data, AKAM has returned 38.39% so far this year. At the same time, Computer and Technology stocks have gained an average of 28.26%. This means that Akamai Technologies is performing better than its sector in terms of year-to-date returns.

Looking more specifically, AKAM belongs to the Internet – Services industry, a group that includes 54 individual stocks and currently sits at #105 in the Zacks Industry Rank. On average, stocks in this group have gained 7.88% this year, meaning that AKAM is performing better in terms of year-to-date returns.

Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to AKAM as it looks to continue its solid performance.

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