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? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
Domo is a member of the Computer and Technology sector. This group includes 637 individual stocks and currently holds a Zacks Sector Rank of #6. 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. DOMO is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for DOMO's full-year earnings has moved 3.50% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, DOMO has returned 77.89% so far this year. In comparison, Computer and Technology companies have returned an average of 14.99%. As we can see, Domo is performing better than its sector in the calendar year.
Looking more specifically, DOMO belongs to the Internet - Software industry, which includes 83 individual stocks and currently sits at #70 in the Zacks Industry Rank. Stocks in this group have gained about 26.23% so far this year, so DOMO is performing better this group in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track DOMO. The stock will be looking to continue its 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.