The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Appian (APPN) been one of those stocks this year? 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.
Appian is one of 604 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #3 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. Appian is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for APPN's full-year earnings has moved 48.5% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, APPN has moved about 28.3% on a year-to-date basis. In comparison, Computer and Technology companies have returned an average of 27.5%. This means that Appian is performing better than its sector in terms of year-to-date returns.
Another Computer and Technology stock, which has outperformed the sector so far this year, is JFrog Ltd. (FROG). The stock has returned 118.7% year-to-date.
Over the past three months, JFrog Ltd.'s consensus EPS estimate for the current year has increased 3.2%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Appian belongs to the Internet - Software industry, a group that includes 168 individual companies and currently sits at #61 in the Zacks Industry Rank. This group has gained an average of 10.4% so far this year, so APPN is performing better in this area. JFrog Ltd. is also part of the same industry.
Investors with an interest in Computer and Technology stocks should continue to track Appian and JFrog Ltd.. These stocks will be looking to continue their solid performance.
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Appian Corporation (APPN): Free Stock Analysis Report JFrog Ltd. (FROG): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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