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Has Domo (DOMO) Outpaced Other Computer and Technology Stocks This Year?

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For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Domo (DOMO - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

Domo is a member of the Computer and Technology sector. This group includes 606 individual stocks and currently holds a Zacks Sector Rank of #7. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

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).

Within the past quarter, the Zacks Consensus Estimate for DOMO's full-year earnings has moved 7.55% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

According to our latest data, DOMO has moved about 49.40% on a year-to-date basis. Meanwhile, stocks in the Computer and Technology group have gained about 16.64% on average. This means that Domo is outperforming the sector as a whole this year.

To break things down more, DOMO belongs to the Internet - Software industry, a group that includes 91 individual companies and currently sits at #111 in the Zacks Industry Rank. On average, this group has gained an average of 56.70% so far this year, meaning that DOMO is slightly underperforming its industry 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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