Shares of Domino's Pizza, Inc. (NYSE: DPZ) have gained 22 percent over the past year. Despite the strong outperformance versus major indices, Karen Holthouse of Goldman Sachs remains bullish on the pizza chain.

Holthouse commented in a note on Tuesday she remains "comfortable" with her prior 6.9 percent second quarter comps estimate. She added that this estimate roughly benchmarks Domino's to a 150 basis point deceleration. However, a more efficient ad spend could drive upside to the company's earnings.

Holthouse also noted a spike in search results for the term "Domino's car" which suggests a high return on investment on future initiatives.

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The consensus estimate is calling for Domino's to earn $0.94 per share while Holthouse is modeling the company to earn $0.96 per share.

Holthouse maintained a Buy rating on shares of Domino's with an unchanged $139 price target.