Time New York: Mon 19 Nov 00:38 am  |  Save 15% on H&R Block Online

  
caticonslite_bm_alt

Is Palo Alto Networks (PANW) Stock Outpacing Its Computer and Technology Peers This Year?

Zacks

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. Has Palo Alto Networks (PANW) been one of those stocks this year? Let’s take a closer look at the stock’s year-to-date performance to find out.

Palo Alto Networks is a member of the Computer and Technology sector. This group includes 625 individual stocks and currently holds a Zacks Sector Rank of #3. 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. PANW is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for PANW’s full-year earnings has moved 23.98% higher. This means that analyst sentiment is stronger and the stock’s earnings outlook is improving.


Based on the most recent data, PANW has returned 62.91% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 11.09% on average. This means that Palo Alto Networks is outperforming the sector as a whole this year.

To break things down more, PANW belongs to the Security industry, a group that currently sits at #24 in the Zacks Industry Rank. Stocks in this group have gained about 45.27% so far this year, so PANW is performing better this group in terms of year-to-date returns.

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


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

To read this article on Zacks.com click here.
<-- You can share this post with your network,
or give us your opinion and leave a comment.
Be sure to check our RSS feeds for updates.