The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Arlo Technologies (ARLO – Free Report) one of those stocks right now? 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.
Arlo Technologies is one of 626 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #8 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 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. ARLO is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ARLO’s full-year earnings has moved 22.58% higher. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.
Our latest available data shows that ARLO has returned about 8.99% since the start of the calendar year. Meanwhile, stocks in the Computer and Technology group have gained about 5.63% on average. This means that Arlo Technologies is performing better than its sector in terms of year-to-date returns.
To break things down more, ARLO belongs to the Internet – Software industry, a group that includes 104 individual companies and currently sits at #169 in the Zacks Industry Rank. On average, stocks in this group have lost 1.14% this year, meaning that ARLO 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 ARLO as it looks to continue its solid performance.