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Is Splunk (SPLK) Stock Outpacing Its Computer and Technology Peers This Year?
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Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Has Splunk been one of those stocks this year? 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.
Splunk is one of 633 companies in the Computer and Technology group. The Computer and Technology group currently sits at #9 within 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. Splunk is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for SPLK's full-year earnings has moved 254% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, SPLK has moved about 38.5% on a year-to-date basis. At the same time, Computer and Technology stocks have gained an average of 37.9%. This shows that Splunk is outperforming its peers so far this year.
Uber Technologies (UBER - Free Report) is another Computer and Technology stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 92.4%.
In Uber Technologies' case, the consensus EPS estimate for the current year increased 468.6% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Splunk belongs to the Internet - Software industry, a group that includes 148 individual companies and currently sits at #97 in the Zacks Industry Rank. On average, this group has gained an average of 48.7% so far this year, meaning that SPLK is slightly underperforming its industry in terms of year-to-date returns.
Uber Technologies, however, belongs to the Internet - Services industry. Currently, this 41-stock industry is ranked #111. The industry has moved +54.2% so far this year.
Investors with an interest in Computer and Technology stocks should continue to track Splunk and Uber Technologies. These stocks will be looking to continue their solid performance.
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Is Splunk (SPLK) Stock Outpacing Its Computer and Technology Peers This Year?
Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Has Splunk been one of those stocks this year? 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.
Splunk is one of 633 companies in the Computer and Technology group. The Computer and Technology group currently sits at #9 within 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. Splunk is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for SPLK's full-year earnings has moved 254% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, SPLK has moved about 38.5% on a year-to-date basis. At the same time, Computer and Technology stocks have gained an average of 37.9%. This shows that Splunk is outperforming its peers so far this year.
Uber Technologies (UBER - Free Report) is another Computer and Technology stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 92.4%.
In Uber Technologies' case, the consensus EPS estimate for the current year increased 468.6% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Splunk belongs to the Internet - Software industry, a group that includes 148 individual companies and currently sits at #97 in the Zacks Industry Rank. On average, this group has gained an average of 48.7% so far this year, meaning that SPLK is slightly underperforming its industry in terms of year-to-date returns.
Uber Technologies, however, belongs to the Internet - Services industry. Currently, this 41-stock industry is ranked #111. The industry has moved +54.2% so far this year.
Investors with an interest in Computer and Technology stocks should continue to track Splunk and Uber Technologies. These stocks will be looking to continue their solid performance.