Investors focused on the Computer and Technology space have likely heard of Appian (APPN), but is the stock performing well in comparison to the rest of its sector peers? 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.
Appian is one of 605 companies in the Computer and Technology group. The Computer and Technology group currently sits at #4 within 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. APPN is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for APPN’s full-year earnings has moved 9.02% higher. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.
According to our latest data, APPN has moved about 39.57% on a year-to-date basis. At the same time, Computer and Technology stocks have gained an average of 21.35%. As we can see, Appian is performing better than its sector in the calendar year.
Looking more specifically, APPN belongs to the Internet – Software industry, a group that includes 90 individual stocks and currently sits at #107 in the Zacks Industry Rank. On average, stocks in this group have gained 55.91% this year, meaning that APPN is slightly underperforming its industry in terms of year-to-date returns.
APPN will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.