Investors focused on the Computer and Technology space have likely heard of Oracle (ORCL), 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.
Oracle is a member of our Computer and Technology group, which includes 625 different companies and currently sits at #9 in the Zacks Sector Rank. 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 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. ORCL is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ORCL’s full-year earnings has moved 2.62% higher. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.
According to our latest data, ORCL has moved about 8.47% on a year-to-date basis. At the same time, Computer and Technology stocks have gained an average of 4.75%. This means that Oracle is outperforming the sector as a whole this year.
Looking more specifically, ORCL belongs to the Computer – Software industry, a group that includes 37 individual stocks and currently sits at #109 in the Zacks Industry Rank. On average, stocks in this group have gained 3.27% this year, meaning that ORCL is performing better in terms of year-to-date returns.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to ORCL as it looks to continue its solid performance.