Are Computer and Technology Stocks Lagging Audioeye (AEYE) This Year?

Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. AudioEye (AEYE) 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? 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.

AudioEye is a member of our Computer and Technology group, which includes 618 different companies and currently sits at #2 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 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. AudioEye is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for AEYE’s full-year earnings has moved 20.7% higher. This means that analyst sentiment is stronger and the stock’s earnings outlook is improving.

Based on the latest available data, AEYE has gained about 222% so far this year. At the same time, Computer and Technology stocks have gained an average of 33%. As we can see, AudioEye is performing better than its sector in the calendar year.

One other Computer and Technology stock that has outperformed the sector so far this year is Advantest Corp. (ATEYY). The stock is up 64.4% year-to-date.

The consensus estimate for Advantest Corp.’s current year EPS has increased 40.9% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

To break things down more, AudioEye belongs to the Internet – Software industry, a group that includes 145 individual companies and currently sits at #32 in the Zacks Industry Rank. This group has gained an average of 31.8% so far this year, so AEYE is performing better in this area.

In contrast, Advantest Corp. falls under the Electronics – Measuring Instruments industry. Currently, this industry has 5 stocks and is ranked #4. Since the beginning of the year, the industry has moved +2.3%.

Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to AudioEye and Advantest Corp. as they could maintain their solid performance.

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