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Is Ouster (OUST) Stock Outpacing Its Computer and Technology Peers This Year?
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The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Ouster, Inc. (OUST - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
Ouster, Inc. is a member of our Computer and Technology group, which includes 618 different companies and currently sits at #10 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. Ouster, Inc. is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for OUST's full-year earnings has moved 1.7% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, OUST has moved about 70.1% on a year-to-date basis. At the same time, Computer and Technology stocks have gained an average of 16.9%. As we can see, Ouster, Inc. is performing better than its sector in the calendar year.
Another Computer and Technology stock, which has outperformed the sector so far this year, is Alkami Technology (ALKT - Free Report) . The stock has returned 19.1% year-to-date.
In Alkami Technology's case, the consensus EPS estimate for the current year increased 2.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Ouster, Inc. is a member of the Electronics - Miscellaneous Components industry, which includes 31 individual companies and currently sits at #179 in the Zacks Industry Rank. On average, this group has gained an average of 7% so far this year, meaning that OUST is performing better in terms of year-to-date returns.
On the other hand, Alkami Technology belongs to the Internet - Software industry. This 138-stock industry is currently ranked #56. The industry has moved +13.8% year to date.
Ouster, Inc. and Alkami Technology could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.
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Is Ouster (OUST) Stock Outpacing Its Computer and Technology Peers This Year?
The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Ouster, Inc. (OUST - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
Ouster, Inc. is a member of our Computer and Technology group, which includes 618 different companies and currently sits at #10 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. Ouster, Inc. is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for OUST's full-year earnings has moved 1.7% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, OUST has moved about 70.1% on a year-to-date basis. At the same time, Computer and Technology stocks have gained an average of 16.9%. As we can see, Ouster, Inc. is performing better than its sector in the calendar year.
Another Computer and Technology stock, which has outperformed the sector so far this year, is Alkami Technology (ALKT - Free Report) . The stock has returned 19.1% year-to-date.
In Alkami Technology's case, the consensus EPS estimate for the current year increased 2.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Ouster, Inc. is a member of the Electronics - Miscellaneous Components industry, which includes 31 individual companies and currently sits at #179 in the Zacks Industry Rank. On average, this group has gained an average of 7% so far this year, meaning that OUST is performing better in terms of year-to-date returns.
On the other hand, Alkami Technology belongs to the Internet - Software industry. This 138-stock industry is currently ranked #56. The industry has moved +13.8% year to date.
Ouster, Inc. and Alkami Technology could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.