Is Akamai Technologies (AKAM) 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. Akamai Technologies (AKAM) 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 AKAM and the rest of the Computer and Technology group’s stocks.

Akamai Technologies is one of 613 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #3 in the Zacks Sector Rank. 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 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).

The Zacks Consensus Estimate for AKAM’s full-year earnings has moved 3.66% higher within the past quarter. This signals that analyst sentiment is improving and the stock’s earnings outlook is more positive.

Based on the latest available data, AKAM has gained about 17.96% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 1.80% on a year-to-date basis. As we can see, Akamai Technologies is performing better than its sector in the calendar year.

Breaking things down more, AKAM is a member of the Internet – Services industry, which includes 49 individual companies and currently sits at #29 in the Zacks Industry Rank. This group has gained an average of 5.40% so far this year, so AKAM is performing better in this area.

Investors in the Computer and Technology sector will want to keep a close eye on AKAM as it attempts to continue its solid performance.

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