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

Angelena Iglesia

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? A quick glance at the company’s year-to-date performance in comparison to the rest of the Computer and Technology sector should help […]

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? A quick glance at the company’s year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.

Ooma is a member of the Computer and Technology sector. This group includes 604 individual stocks and currently holds a Zacks Sector Rank of #7. 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 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).

Within the past quarter, the Zacks Consensus Estimate for OOMA’s full-year earnings has moved 37.93% higher. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.

Based on the latest available data, OOMA has gained about 7.33% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 29.35% on a year-to-date basis. This means that Ooma is outperforming the sector as a whole this year.

Breaking things down more, OOMA is a member of the Communication – Components industry, which includes 19 individual companies and currently sits at #109 in the Zacks Industry Rank. This group has gained an average of 4.69% so far this year, so OOMA is performing better in this area.

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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