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Is Splunk (SPLK) Stock Outpacing Its Computer and Technology Peers This Year?

Zacks Equity Research

Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Is Splunk (SPLK) 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.

Splunk is a member of the Computer and Technology sector. This group includes 631 individual stocks and currently holds a Zacks Sector Rank of #7. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

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. SPLK is currently sporting a Zacks Rank of #1 (Strong Buy).

The Zacks Consensus Estimate for SPLK's full-year earnings has moved 15.74% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

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Based on the most recent data, SPLK has returned 5.35% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 21.82% on a year-to-date basis. This means that Splunk is outperforming the sector as a whole this year.

Looking more specifically, SPLK belongs to the Internet - Software industry, a group that includes 91 individual stocks and currently sits at #56 in the Zacks Industry Rank. On average, this group has gained an average of 8.94% so far this year, meaning that SPLK is slightly underperforming its industry in terms of year-to-date returns.

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


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Zacks Investment Research