For those looking to find strong computer and technology stocks, it’s prudent to look for companies in this group that are outperforming their peers. Axcelis technology (ACLS – Free Report) is a stock that could attract the attention of many investors, but do its recent returns compare favorably with the broader industry? We may be able to answer this question by looking at how the stock has performed year-to-date compared to its computer and technology peers.
Axcelis Technologies is one of 653 companies in the Computer and Technology group. The Computer and Technology Group currently holds a Zacks Industry Rank of #8. The Zacks Industry Rank measures the strength of our 16 individual industry groups by measuring the average Zacks Rank of the individual stocks within the group.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with an improving earnings outlook. The system has a long track record of success, and these stocks are often poised to outperform the market over the next one to three months. Axcelis Technologies currently carries a Zacks Rank #1 (Strong Buy).
The Zacks Consensus Estimate for ACLS’ full-year earnings has moved 9.4% higher over the past quarter. That means analyst sentiment is strengthening and the stock’s earnings outlook is improving.
According to the latest data, ACLS has returned 26.7% year-to-date. That compares with an average return of -31.6% for computer and technology companies. This means that Axcelis Technologies has outperformed the entire industry this year.
center point (hub – Free Report) is another computer and technology stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 9.2%.
The consensus EPS estimate for HubSpot for the current year has risen 7.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break it down further, Axcelis Technologies belongs to the Electronics – Manufacturing Machinery industry, which includes 10 individual companies and currently carries the Zacks Industry Rank #218. The group of stocks has lost about 31.1% so far this year, so ACLS has outperformed the group in terms of year-to-date returns.
However, HubSpot belongs to the Internet-Software industry. Currently, this 150-stock sector ranks No. 46. The sector is up -57.6% so far this year.
Investors interested in the computer and technology space may want to keep a close eye on Axcelis Technologies and HubSpot as they attempt to continue their solid performances.
