Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Palo Alto Networks (PANW - 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? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
Palo Alto Networks is one of 660 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 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 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. PANW is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for PANW's full-year earnings has moved 27.20% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, PANW has returned 27.11% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 2.30% on a year-to-date basis. As we can see, Palo Alto Networks is performing better than its sector in the calendar year.
To break things down more, PANW belongs to the Security industry, a group that includes 12 individual companies and currently sits at #27 in the Zacks Industry Rank. On average, this group has gained an average of 25.57% so far this year, meaning that PANW is performing better in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on PANW as it attempts to continue its solid performance.