Is Asana’s stock outpacing its computer and technology peers this year?
While the Computer and Technology sector has many great stocks, investors should be looking for companies outperforming their peers. Is Asana, Inc. (ASAN), one of these stocks? This question can be answered by comparing the year-to-date performance of the company with the rest in the Computer and Technology sector.
Asana, Inc. is part of the Computer and Technology group, which contains 654 companies and currently stands at #5 on the Zacks Sector rank. The Zacks Sector Rank measures the strength of each of our 16 sector groups by comparing the Zacks Ranks of individual stocks within those groups.
Zacks Rank, a stock-picking system that emphasizes earnings estimates as well as estimate revisions, is a highly successful model. The system highlights several stocks that are likely to outperform the wider market in the next one-to three months. Asana, Inc. currently holds a Zacks Rank 2 (Buy).
In the last quarter, the Zacks Consensus Estimate of ASAN’s full year earnings rose 2.5%. This suggests that analysts are more positive about the company and its earnings outlook is better.
ASAN has seen a 2% return so far in the year, according to most recent data. On average, the Computer and Technology group has seen a 32% loss in shares. As you can see, Asana, Inc. performs better than its sector during the calendar year.
Bandwidth, a Computer and Technology stock, has outperformed the sector this year. The stock has returned 2.2% in the past year.
Bandwidth has seen its consensus EPS estimate for this year increase by 3.3% in the last three months. Current Zacks Rank #1 (Strong buy) for the stock.
Asana, Inc., which is a part of the Internet – Software sector, has been ranked 35 in the Zacks Rank. It currently holds the #35 position in the Zacks Industries Rank. The stocks in this group have experienced a decline of about 57.9% this year. ASAN has been performing better than this group in terms o year-to date returns.
Bandwidth is a part of the Communication and Infrastructure industry. This 7-stock sector is currently ranked #167. This industry has seen a decrease of 48.1% over the past year.
Investors interested in Computer and Technology stocks will continue to track Asana, Inc. and Bandwidth. These stocks will continue to perform well.
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Asana, Inc. (ASAN) : Free Stock Analysis Report
Bandwidth Inc. (BAND) : Free Stock Analysis Report