Is Anaplan (PLAN) Stock Outpacing Its Computer and Technology Peers This Year?

Investors focused on the Computer and Technology space have likely heard of Anaplan (PLAN), 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 PLAN and the rest of the Computer and Technology group's stocks.

Anaplan is a member of our Computer and Technology group, which includes 640 different companies and currently sits at #6 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. 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 10.62% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Based on the most recent data, PLAN has returned 89.79% so far this year. At the same time, Computer and Technology stocks have gained an average of 20.34%. As we can see, Anaplan is performing better than its sector in the calendar year.

Looking more specifically, PLAN belongs to the Internet - Software industry, a group that includes 88 individual stocks and currently sits at #84 in the Zacks Industry Rank. On average, stocks in this group have gained 34.02% this year, meaning that PLAN 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 PLAN as it attempts to continue its solid performance.

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