Has A10 Networks (ATEN) Outpaced Other Computer and Technology Stocks This Year?
Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. A10 Networks (ATEN) 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? One simple way to answer this question is to take a look at the year-to-date performance of ATEN and the rest of the Computer and Technology group's stocks.
A10 Networks is a member of the Computer and Technology sector. This group includes 605 individual stocks and currently holds a Zacks Sector Rank of #5. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. ATEN is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ATEN's full-year earnings has moved 1,600% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, ATEN has gained about 28.09% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 20.58% on a year-to-date basis. This shows that A10 Networks is outperforming its peers so far this year.
Breaking things down more, ATEN is a member of the Communication - Network Software industry, which includes 7 individual companies and currently sits at #98 in the Zacks Industry Rank. On average, stocks in this group have gained 7.62% this year, meaning that ATEN is performing better in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track ATEN. The stock will be looking to continue its solid performance.
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