The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Palo Alto Networks (PANW) 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? 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.
Palo Alto Networks is a member of the Computer and Technology sector. This group includes 642 individual stocks and currently holds a Zacks Sector Rank of #6. 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 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. PANW is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for PANW's full-year earnings has moved 15.45% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, PANW has gained about 27.89% so far this year. At the same time, Computer and Technology stocks have gained an average of 14.86%. This means that Palo Alto Networks is performing better than its sector in terms of year-to-date returns.
Looking more specifically, PANW belongs to the Security industry, which includes 11 individual stocks and currently sits at #17 in the Zacks Industry Rank. On average, stocks in this group have gained 22.28% this year, meaning that PANW is performing better in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track PANW. The stock will be looking to continue its solid performance.
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Palo Alto Networks, Inc. (PANW) : Free Stock Analysis Report
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