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

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Investors focused on the Computer and Technology space have likely heard of Anaplan , but is the stock performing well in comparison to the rest of its sector peers? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.

Anaplan is one of 637 companies in the Computer and Technology group. The Computer and Technology group currently sits at #6 within 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. PLAN is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for PLAN's full-year earnings has moved 10.10% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Based on the latest available data, PLAN has gained about 76.15% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 16.19% on a year-to-date basis. This means that Anaplan is outperforming the sector as a whole this year.

To break things down more, PLAN belongs to the Internet - Software industry, a group that includes 83 individual companies and currently sits at #84 in the Zacks Industry Rank. On average, stocks in this group have gained 33.02% 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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