Has KLA (KLAC) Outpaced Other Computer and Technology Stocks This Year?
Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. KLA (KLAC) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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.
KLA is a member of the Computer and Technology sector. This group includes 607 individual stocks and currently holds a Zacks Sector Rank of #9. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. KLA is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for KLAC's full-year earnings has moved 2.5% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, KLAC has moved about 24.9% on a year-to-date basis. At the same time, Computer and Technology stocks have lost an average of 1.4%. As we can see, KLA is performing better than its sector in the calendar year.
One other Computer and Technology stock that has outperformed the sector so far this year is Domo (DOMO). The stock is up 23% year-to-date.
The consensus estimate for Domo's current year EPS has increased 8.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, KLA belongs to the Electronics - Miscellaneous Products industry, which includes 34 individual stocks and currently sits at #157 in the Zacks Industry Rank. On average, this group has gained an average of 5.7% so far this year, meaning that KLAC is performing better in terms of year-to-date returns.
Domo, however, belongs to the Internet - Software industry. Currently, this 167-stock industry is ranked #73. The industry has moved +7% so far this year.
Investors with an interest in Computer and Technology stocks should continue to track KLA and Domo. These stocks will be looking to continue their solid performance.
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KLA Corporation (KLAC) : Free Stock Analysis Report
Domo, Inc. (DOMO) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
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