Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Is Oracle (ORCL) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Oracle is one of 617 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #8 in 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. Oracle is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ORCL's full-year earnings has moved 0.7% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, ORCL has moved about 30.4% on a year-to-date basis. At the same time, Computer and Technology stocks have gained an average of 21.8%. This shows that Oracle is outperforming its peers so far this year.
One other Computer and Technology stock that has outperformed the sector so far this year is Badger Meter (BMI). The stock is up 29.6% year-to-date.
For Badger Meter, the consensus EPS estimate for the current year has increased 4.3% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Oracle is a member of the Computer - Software industry, which includes 33 individual companies and currently sits at #98 in the Zacks Industry Rank. This group has gained an average of 10.8% so far this year, so ORCL is performing better in this area.
On the other hand, Badger Meter belongs to the Instruments - Control industry. This 6-stock industry is currently ranked #98. The industry has moved +6.3% year to date.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to Oracle and Badger Meter as they could maintain their solid performance.
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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.
