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Is Domo (DOMO) Stock Outpacing Its Computer and Technology Peers This Year?

July 14, 2020
evan
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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 606 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. 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 7.55% higher. This means that analyst sentiment is stronger and the stock’s earnings outlook is improving.

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Our latest available data shows that DOMO has returned about 53.45% since the start of the calendar year. In comparison, Computer and Technology companies have returned an average of 14.11%. This means that Domo is outperforming the sector as a whole this year.

Looking more specifically, DOMO belongs to the Internet – Software industry, which includes 91 individual stocks and currently sits at #69 in the Zacks Industry Rank. On average, this group has gained an average of 48.63% so far this year, meaning that DOMO is performing better 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.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Domo, Inc. (DOMO) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research

computer Domo Outpacing Peers stock technology Year

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