Are Computer and Technology Stocks Lagging Adyen (ADYEY) This Year?

For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Adyen N.V. Unsponsored ADR (ADYEY) 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.Adyen N.V. Unsponsored ADR is one of 603 companies in the Computer and Technology group. The Computer and Technology group currently sits at #5 within the Zacks Sector Rank. 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 is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Adyen N.V. Unsponsored ADR is currently sporting a Zacks Rank of #2 (Buy).The Zacks Consensus Estimate for ADYEY's full-year earnings has moved 0.9% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.Based on the most recent data, ADYEY has returned 10.9% so far this year. At the same time, Computer and Technology stocks have lost an average of 6.1%. As we can see, Adyen N.V. Unsponsored ADR is performing better than its sector in the calendar year.Elastic (ESTC) 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 2.6%.The consensus estimate for Elastic's current year EPS has increased 23.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).To break things down more, Adyen N.V. Unsponsored ADR belongs to the Internet - Software industry, a group that includes 148 individual companies and currently sits at #128 in the Zacks Industry Rank. This group has gained an average of 2.5% so far this year, so ADYEY is performing better in this area. Elastic is also part of the same industry.Adyen N.V. Unsponsored ADR and Elastic could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Adyen N.V. Unsponsored ADR (ADYEY): Free Stock Analysis Report Elastic N.V. (ESTC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks