Investors focused on the Computer and Technology space have likely heard of Limelight Networks (LLNW), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of LLNW and the rest of the Computer and Technology group's stocks.
Limelight Networks is a member of the Computer and Technology sector. This group includes 606 individual stocks and currently holds a Zacks Sector Rank of #8. 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 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. LLNW is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for LLNW's full-year earnings has moved 8.33% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that LLNW has returned about 56.86% since the start of the calendar year. Meanwhile, stocks in the Computer and Technology group have gained about 16.26% on average. This means that Limelight Networks is outperforming the sector as a whole this year.
To break things down more, LLNW belongs to the Internet - Services industry, a group that includes 47 individual companies and currently sits at #117 in the Zacks Industry Rank. This group has gained an average of 16.06% so far this year, so LLNW is performing better in this area.
Investors in the Computer and Technology sector will want to keep a close eye on LLNW as it attempts to continue its solid performance.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.