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Is Ooma (OOMA) Stock Outpacing Its Computer and Technology Peers This Year?

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Investors focused on the Computer and Technology space have likely heard of Ooma (OOMA - Free Report) , 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.

Ooma is a member of our Computer and Technology group, which includes 611 different companies and currently sits at #8 in the Zacks Sector Rank. 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. OOMA is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for OOMA's full-year earnings has moved 39.58% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Our latest available data shows that OOMA has returned about 13.98% since the start of the calendar year. At the same time, Computer and Technology stocks have gained an average of 10.81%. This means that Ooma is outperforming the sector as a whole this year.

To break things down more, OOMA belongs to the Communication - Components industry, a group that includes 19 individual companies and currently sits at #104 in the Zacks Industry Rank. Stocks in this group have lost about 9.28% so far this year, so OOMA 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 OOMA. The stock will be looking to continue its solid performance.


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