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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 Planet Labs PBC (PL) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Planet Labs PBC is a member of our Computer and Technology group, which includes 608 different companies and currently sits at #3 in the Zacks Sector Rank. 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 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. Planet Labs PBC is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for PL's full-year earnings has moved 10.8% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, PL has returned 35.2% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 34% on average. This means that Planet Labs PBC is outperforming the sector as a whole this year.
Another Computer and Technology stock, which has outperformed the sector so far this year, is Twilio (TWLO). The stock has returned 36% year-to-date.
The consensus estimate for Twilio's current year EPS has increased 19% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Planet Labs PBC belongs to the Internet - Software industry, which includes 151 individual stocks and currently sits at #39 in the Zacks Industry Rank. Stocks in this group have gained about 48.9% so far this year, so PL is slightly underperforming its industry this group in terms of year-to-date returns. Twilio is also part of the same industry.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to Planet Labs PBC and Twilio as they could maintain their solid performance.
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Planet Labs PBC (PL) : Free Stock Analysis Report
Twilio Inc. (TWLO) : Free Stock Analysis Report