Is Audioeye (AEYE) Stock Outpacing Its Computer and Technology Peers This Year?
Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Is Audioeye (AEYE) 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.
Audioeye is one of 614 companies in the Computer and Technology group. The Computer and Technology group currently sits at #3 within 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. AEYE is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for AEYE’s full-year earnings has moved 30.30% higher. This signals that analyst sentiment is improving and the stock’s earnings outlook is more positive.
Based on the latest available data, AEYE has gained about 63.54% so far this year. Meanwhile, stocks in the Computer and Technology group have lost about 1.70% on average. This shows that Audioeye is outperforming its peers so far this year.
Looking more specifically, AEYE belongs to the Internet – Software industry, a group that includes 90 individual stocks and currently sits at #38 in the Zacks Industry Rank. Stocks in this group have gained about 10.09% so far this year, so AEYE is performing better this group in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track AEYE. The stock will be looking to continue its solid performance.
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