Are Computer and Technology Stocks Lagging Audioeye (AEYE) This Year?

Zacks
2024-12-06

The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. AudioEye (AEYE) 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.

AudioEye is one of 618 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #2 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 system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. AudioEye 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 20.7% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Based on the latest available data, AEYE has gained about 281.9% so far this year. In comparison, Computer and Technology companies have returned an average of 32.8%. This means that AudioEye is performing better than its sector in terms of year-to-date returns.

Another stock in the Computer and Technology sector, Credo Technology Group Holding Ltd. (CRDO), has outperformed the sector so far this year. The stock's year-to-date return is 261.6%.

The consensus estimate for Credo Technology Group Holding Ltd.'s current year EPS has increased 671.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Breaking things down more, AudioEye is a member of the Internet - Software industry, which includes 145 individual companies and currently sits at #37 in the Zacks Industry Rank. On average, this group has gained an average of 39.4% so far this year, meaning that AEYE is performing better in terms of year-to-date returns.

In contrast, Credo Technology Group Holding Ltd. falls under the Electronics - Semiconductors industry. Currently, this industry has 43 stocks and is ranked #127. Since the beginning of the year, the industry has moved +32.3%.

Investors with an interest in Computer and Technology stocks should continue to track AudioEye and Credo Technology Group Holding Ltd. These stocks will be looking to continue their solid performance.

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