Investors focused on the Computer and Technology space have likely heard of Audioeye (AEYE), but is the stock performing well in comparison to the rest of its sector peers? Let’s take a closer look at the stock’s year-to-date performance to find out.
Audioeye 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 considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. AEYE is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for AEYE’s full-year earnings has moved 31.82% 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 88.91% so far this year. At the same time, Computer and Technology stocks have gained an average of 6.36%. This shows that Audioeye is outperforming its peers so far this year.
Looking more specifically, AEYE belongs to the Internet – Software industry, which includes 90 individual stocks and currently sits at #27 in the Zacks Industry Rank. This group has gained an average of 34.22% so far this year, so AEYE is performing better in this area.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to AEYE as it looks to continue its solid performance.
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