Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Ouster, Inc. (OUST) 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? Let's take a closer look at the stock's year-to-date performance to find out.
Ouster, Inc. is a member of our Computer and Technology group, which includes 605 different companies and currently sits at #4 in the Zacks Sector Rank. 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 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. Ouster, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for OUST's full-year earnings has moved 9.2% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that OUST has returned about 151.5% since the start of the calendar year. Meanwhile, stocks in the Computer and Technology group have gained about 18.9% on average. This means that Ouster, Inc. is performing better than its sector in terms of year-to-date returns.
Credo Technology Group Holding Ltd. (CRDO) is another Computer and Technology stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 137.1%.
Over the past three months, Credo Technology Group Holding Ltd.'s consensus EPS estimate for the current year has increased 14.2%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Ouster, Inc. belongs to the Electronics - Miscellaneous Components industry, a group that includes 24 individual stocks and currently sits at #65 in the Zacks Industry Rank. On average, stocks in this group have gained 35.5% this year, meaning that OUST is performing better in terms of year-to-date returns.
Credo Technology Group Holding Ltd., however, belongs to the Electronics - Semiconductors industry. Currently, this 44-stock industry is ranked #193. The industry has moved +35.9% so far this year.
Ouster, Inc. and Credo Technology Group Holding Ltd. could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.
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Ouster, Inc. (OUST): Free Stock Analysis Report Credo Technology Group Holding Ltd. (CRDO): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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