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Is Domo (DOMO) Outperforming Other Computer and Technology Stocks This Year?

Zacks Equity Research

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 one of 630 companies in the Computer and Technology group. The Computer and Technology group currently sits at #5 within the Zacks Sector Rank. 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 is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. 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 0.64% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

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Our latest available data shows that DOMO has returned about 4.47% since the start of the calendar year. In comparison, Computer and Technology companies have returned an average of 1.65%. This means that Domo is outperforming the sector as a whole this year.

Looking more specifically, DOMO belongs to the Internet - Software industry, a group that includes 92 individual stocks and currently sits at #100 in the Zacks Industry Rank. This group has gained an average of 3.17% so far this year, so DOMO is performing better in this area.

Investors with an interest in Computer and Technology stocks should continue to track DOMO. The stock will be looking to continue its solid performance.


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Zacks Investment Research