Investors focused on the Computer and Technology space have likely heard of Domo (DOMO), 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.
Domo is a member of the Computer and Technology sector. This group includes 640 individual stocks and currently holds a Zacks Sector Rank of #5. 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 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. DOMO is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for DOMO's full-year earnings has moved 3.50% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, DOMO has gained about 94.29% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 24.58% on a year-to-date basis. This shows that Domo is outperforming its peers so far this year.
To break things down more, DOMO belongs to the Internet - Software industry, a group that includes 84 individual companies and currently sits at #51 in the Zacks Industry Rank. Stocks in this group have gained about 31.76% so far this year, so DOMO is performing better this group in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on DOMO as it attempts to continue its solid performance.
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