October 5, 2024

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World Finance Reviews

Are Computer and Technology Stocks Lagging Oracle (ORCL) This Year?

Are Computer and Technology Stocks Lagging Oracle (ORCL) This Year?

The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Oracle (ORCL) 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? 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 the Computer and Technology sector. This group includes 618 individual stocks and currently holds a Zacks Sector Rank of #8. 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 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. Oracle is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for ORCL’s full-year earnings has moved 0.7% higher. This signals that analyst sentiment is improving and the stock’s earnings outlook is more positive.

According to our latest data, ORCL has moved about 33.5% on a year-to-date basis. In comparison, Computer and Technology companies have returned an average of 16.3%. This means that Oracle is outperforming the sector as a whole this year.

Another stock in the Computer and Technology sector, Ceragon Networks (CRNT), has outperformed the sector so far this year. The stock’s year-to-date return is 35.9%.

Over the past three months, Ceragon Networks’ consensus EPS estimate for the current year has increased 33.3%. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Oracle belongs to the Computer – Software industry, a group that includes 33 individual stocks and currently sits at #49 in the Zacks Industry Rank. Stocks in this group have gained about 8.5% so far this year, so ORCL is performing better this group in terms of year-to-date returns.

On the other hand, Ceragon Networks belongs to the Wireless Non-US industry. This 13-stock industry is currently ranked #18. The industry has moved +1.8% year to date.

Investors with an interest in Computer and Technology stocks should continue to track Oracle and Ceragon Networks. These stocks will be looking to continue their solid performance.

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Ceragon Networks Ltd. (CRNT) : Free Stock Analysis Report

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