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Investors focused on the Computer and Technology space have likely heard of Ooma (OOMA), 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 the Computer and Technology sector. This group includes 613 individual stocks and currently holds a Zacks Sector Rank of #12. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. OOMA is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for OOMA's full-year earnings has moved 37.93% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, OOMA has moved about 3.33% on a year-to-date basis. Meanwhile, stocks in the Computer and Technology group have gained about 24.80% on average. As we can see, Ooma is performing better than its sector in the calendar year.
Breaking things down more, OOMA is a member of the Communication - Components industry, which includes 20 individual companies and currently sits at #94 in the Zacks Industry Rank. On average, this group has gained an average of 5.29% so far this year, meaning that OOMA is slightly underperforming its industry in terms of year-to-date returns.
OOMA will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company.
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