For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Is AppFolio (APPF - 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.
AppFolio is one of 625 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #3 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. APPF is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for APPF's full-year earnings has moved 33.33% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, APPF has returned 97.35% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 13.99% on average. This means that AppFolio is outperforming the sector as a whole this year.
Looking more specifically, APPF belongs to the Internet - Software industry, which includes 70 individual stocks and currently sits at #105 in the Zacks Industry Rank. Stocks in this group have gained about 32.52% so far this year, so APPF is performing better this group in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track APPF. The stock will be looking to continue its solid performance.