Investors focused on the Computer and Technology space have likely heard of Splunk (SPLK - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of SPLK and the rest of the Computer and Technology group's stocks.
Splunk is one of 655 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. SPLK is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for SPLK's full-year earnings has moved 6.96% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, SPLK has returned 11.93% so far this year. Meanwhile, stocks in the Computer and Technology group have lost about 11.26% on average. As we can see, Splunk is performing better than its sector in the calendar year.
Looking more specifically, SPLK belongs to the Internet - Software industry, which includes 89 individual stocks and currently sits at #24 in the Zacks Industry Rank. Stocks in this group have lost about 4.74% so far this year, so SPLK is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to SPLK as it looks to continue its solid performance.