April 15, 2024


It's the Technology

Is Arlo Technologies (ARLO) Stock Outpacing Its Computer and Technology Peers This Year?

Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Has Arlo Technologies (ARLO) been one of those stocks this year? 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 647 companies in the Computer and Technology group. The Computer and Technology group currently sits at #7 within 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 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. Arlo Technologies is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for ARLO’s full-year earnings has moved 20.7% 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 29.9% since the start of the calendar year. At the same time, Computer and Technology stocks have gained an average of 24.3%. This means that Arlo Technologies is performing better than its sector in terms of year-to-date returns.

One other Computer and Technology stock that has outperformed the sector so far this year is Advanced Micro Devices (AMD). The stock is up 57.3% year-to-date.

The consensus estimate for Advanced Micro Devices’ current year EPS has increased 5.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Arlo Technologies belongs to the Internet – Software industry, a group that includes 134 individual stocks and currently sits at #189 in the Zacks Industry Rank. On average, this group has lost an average of 20.5% so far this year, meaning that ARLO is performing better in terms of year-to-date returns.

On the other hand, Advanced Micro Devices belongs to the Electronics – Semiconductors industry. This 40-stock industry is currently ranked #49. The industry has moved +43.3% year to date.

Investors with an interest in Computer and Technology stocks should continue to track Arlo Technologies and Advanced Micro Devices. These stocks will be looking to continue their solid performance.

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