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Is Anaplan (PLAN) Stock Outpacing Its Computer and Technology Peers This Year?

Zacks Equity Research

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. Is Anaplan (PLAN) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.

Anaplan is one of 629 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #5 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

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. PLAN is currently sporting a Zacks Rank of #1 (Strong Buy).

The Zacks Consensus Estimate for PLAN's full-year earnings has moved 4.02% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

According to our latest data, PLAN has moved about 98.30% on a year-to-date basis. Meanwhile, the Computer and Technology sector has returned an average of 35.24% on a year-to-date basis. This means that Anaplan is performing better than its sector in terms of year-to-date returns.

Breaking things down more, PLAN is a member of the Internet - Software industry, which includes 91 individual companies and currently sits at #149 in the Zacks Industry Rank. On average, this group has gained an average of 20.95% so far this year, meaning that PLAN is performing better in terms of year-to-date returns.

Investors with an interest in Computer and Technology stocks should continue to track PLAN. The stock will be looking to continue its solid performance.

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Anaplan, Inc. (PLAN) : Free Stock Analysis Report
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