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. Has A10 Networks (ATEN) been one of those stocks this year? 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.
A10 Networks is a member of our Computer and Technology group, which includes 602 different companies and currently sits at #8 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. ATEN is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ATEN’s full-year earnings has moved 1,600% higher within the past quarter. This means that analyst sentiment is stronger and the stock’s earnings outlook is improving.
Our latest available data shows that ATEN has returned about 3.20% since the start of the calendar year. Meanwhile, the Computer and Technology sector has returned an average of 20.75% on a year-to-date basis. This means that A10 Networks is outperforming the sector as a whole this year.
Looking more specifically, ATEN belongs to the Communication – Network Software industry, which includes 7 individual stocks and currently sits at #86 in the Zacks Industry Rank. On average, stocks in this group have lost 0.52% this year, meaning that ATEN 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 ATEN as it looks to continue its solid performance.
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