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Has Asana (ASAN) Outpaced Other Computer and Technology Stocks This Year?

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Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Asana (ASAN - Free Report) 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? 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.

Asana is one of 647 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #8 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 proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Asana is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for ASAN's full-year earnings has moved 1.2% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the most recent data, ASAN has returned 345.4% so far this year. At the same time, Computer and Technology stocks have gained an average of 29%. As we can see, Asana is performing better than its sector in the calendar year.

To break things down more, Asana belongs to the Internet - Software industry, a group that includes 133 individual companies and currently sits at #183 in the Zacks Industry Rank. On average, this group has lost an average of 8% so far this year, meaning that ASAN is performing better in terms of year-to-date returns.

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