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Has Anaplan (PLAN) Outpaced Other Computer and Technology Stocks This Year?

Zacks Equity Research

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 Anaplan (PLAN) one of those stocks right now? 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.

Anaplan is a member of our Computer and Technology group, which includes 638 different companies and currently sits at #8 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 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. PLAN is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for PLAN's full-year earnings has moved 2.61% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

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Based on the most recent data, PLAN has returned 91.07% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 23% on average. As we can see, Anaplan is performing better than its sector in the calendar year.

To break things down more, PLAN belongs to the Internet - Software industry, a group that includes 89 individual companies and currently sits at #97 in the Zacks Industry Rank. This group has gained an average of 24.53% so far this year, so PLAN is performing better in this area.

Investors with an interest in Computer and Technology stocks should continue to track PLAN. The stock will be looking to continue its solid performance.


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Zacks Investment Research