Is Anaplan (PLAN) Outperforming Other Computer and Technology Stocks This Year?
Investors focused on the Computer and Technology space have likely heard of Anaplan (PLAN), 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 PLAN and the rest of the Computer and Technology group's stocks.
Anaplan is a member of our Computer and Technology group, which includes 630 different companies and currently sits at #3 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 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. PLAN is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for PLAN's full-year earnings has moved 4.02% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, PLAN has gained about 8.80% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 5.51% on a year-to-date basis. This shows that Anaplan is outperforming its peers so far this year.
Breaking things down more, PLAN is a member of the Internet - Software industry, which includes 92 individual companies and currently sits at #116 in the Zacks Industry Rank. On average, stocks in this group have gained 9.75% this year, meaning that PLAN is slightly underperforming its industry in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on PLAN as it attempts to continue its solid performance.
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