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Are Computer and Technology Stocks Lagging AppFolio (APPF) This Year?
The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. AppFolio (APPF - 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.
AppFolio is one of 653 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 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. AppFolio is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for APPF's full-year earnings has moved 65.1% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, APPF has returned 11.2% so far this year. Meanwhile, the Computer and Technology sector has returned an average of -32.2% on a year-to-date basis. As we can see, AppFolio is performing better than its sector in the calendar year.
One other Computer and Technology stock that has outperformed the sector so far this year is Jabil (JBL - Free Report) . The stock is up 14.9% year-to-date.
The consensus estimate for Jabil's current year EPS has increased 8.6% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, AppFolio belongs to the Internet - Software industry, a group that includes 150 individual companies and currently sits at #51 in the Zacks Industry Rank. On average, stocks in this group have lost 58.4% this year, meaning that APPF is performing better in terms of year-to-date returns.
Jabil, however, belongs to the Electronics - Manufacturing Services industry. Currently, this 5-stock industry is ranked #13. The industry has moved +16% so far this year.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to AppFolio and Jabil as they could maintain their solid performance.