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Is Absolute Software (ABST) Outperforming Other Computer and Technology Stocks This Year?

Zacks Equity Research
·2-min read

Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Absolute Software Corporation (ABST) 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? Let's take a closer look at the stock's year-to-date performance to find out.

Absolute Software Corporation is a member of our Computer and Technology group, which includes 659 different companies and currently sits at #9 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

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. Absolute Software Corporation is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past three months, the Zacks Consensus Estimate for ABST's full-year earnings has moved 487.5% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Our latest available data shows that ABST has returned about 13.6% since the start of the calendar year. Meanwhile, the Computer and Technology sector has returned an average of -29.3% on a year-to-date basis. As we can see, Absolute Software Corporation is performing better than its sector in the calendar year.

Another Computer and Technology stock, which has outperformed the sector so far this year, is Impinj (PI). The stock has returned 2.4% year-to-date.

Over the past three months, Impinj's consensus EPS estimate for the current year has increased 33.3%. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Absolute Software Corporation belongs to the Security industry, which includes 7 individual stocks and currently sits at #69 in the Zacks Industry Rank. On average, this group has lost an average of 29.3% so far this year, meaning that ABST is performing better in terms of year-to-date returns.

In contrast, Impinj falls under the Electronics - Semiconductors industry. Currently, this industry has 43 stocks and is ranked #96. Since the beginning of the year, the industry has moved -30.5%.

Investors interested in the Computer and Technology sector may want to keep a close eye on Absolute Software Corporation and Impinj as they attempt to continue their solid performance.


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