Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Is Palo Alto Networks (PANW - Free Report) one of those stocks right now? 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.
Palo Alto Networks is one of 640 companies in the Computer and Technology group. The Computer and Technology group currently sits at #9 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Palo Alto Networks is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for PANW's full-year earnings has moved 18.7% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, PANW has returned 76.7% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 37.7% on a year-to-date basis. As we can see, Palo Alto Networks is performing better than its sector in the calendar year.
Another Computer and Technology stock, which has outperformed the sector so far this year, is Rambus (RMBS - Free Report) . The stock has returned 68.6% year-to-date.
Over the past three months, Rambus' consensus EPS estimate for the current year has increased 4%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Palo Alto Networks is a member of the Internet - Software industry, which includes 146 individual companies and currently sits at #107 in the Zacks Industry Rank. Stocks in this group have gained about 48.5% so far this year, so PANW is performing better this group in terms of year-to-date returns.
In contrast, Rambus falls under the Electronics - Semiconductors industry. Currently, this industry has 40 stocks and is ranked #205. Since the beginning of the year, the industry has moved +52.4%.
Palo Alto Networks and Rambus could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.
Free Report Reveals How You Could Profit from the Growing Electric Vehicle Industry
Globally, electric car sales continue their remarkable growth even after breaking records in 2021. High gas prices have fueled his demand, but so has evolving EV comfort, features and technology. So, the fervor for EVs will be around long after gas prices normalize. Not only are manufacturers seeing record-high profits, but producers of EV-related technology are raking in the dough as well. Do you know how to cash in? If not, we have the perfect report for you – and it’s FREE! Today, don't miss your chance to download Zacks' top 5 stocks for the electric vehicle revolution at no cost and with no obligation.
>>Send me my free report on the top 5 EV stocks<<
Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Is Palo Alto Networks (PANW - Free Report) one of those stocks right now? 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.
Palo Alto Networks is one of 640 companies in the Computer and Technology group. The Computer and Technology group currently sits at #9 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Palo Alto Networks is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for PANW's full-year earnings has moved 18.7% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, PANW has returned 76.7% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 37.7% on a year-to-date basis. As we can see, Palo Alto Networks is performing better than its sector in the calendar year.
Another Computer and Technology stock, which has outperformed the sector so far this year, is Rambus (RMBS - Free Report) . The stock has returned 68.6% year-to-date.
Over the past three months, Rambus' consensus EPS estimate for the current year has increased 4%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Palo Alto Networks is a member of the Internet - Software industry, which includes 146 individual companies and currently sits at #107 in the Zacks Industry Rank. Stocks in this group have gained about 48.5% so far this year, so PANW is performing better this group in terms of year-to-date returns.
In contrast, Rambus falls under the Electronics - Semiconductors industry. Currently, this industry has 40 stocks and is ranked #205. Since the beginning of the year, the industry has moved +52.4%.
Palo Alto Networks and Rambus could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.
Free Report Reveals How You Could Profit from the Growing Electric Vehicle Industry
Globally, electric car sales continue their remarkable growth even after breaking records in 2021. High gas prices have fueled his demand, but so has evolving EV comfort, features and technology. So, the fervor for EVs will be around long after gas prices normalize. Not only are manufacturers seeing record-high profits, but producers of EV-related technology are raking in the dough as well. Do you know how to cash in? If not, we have the perfect report for you – and it’s FREE! Today, don't miss your chance to download Zacks' top 5 stocks for the electric vehicle revolution at no cost and with no obligation.
>>Send me my free report on the top 5 EV stocks<<
Get the latest research report on RMBS - FREE
Get the latest research report on PANW - FREE