The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. DoorDash, Inc. (DASH) 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? 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.
DoorDash, Inc. is one of 628 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. DoorDash, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for DASH's full-year earnings has moved 0.5% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that DASH has returned about 52.6% since the start of the calendar year. Meanwhile, stocks in the Computer and Technology group have gained about 36% on average. This means that DoorDash, Inc. is performing better than its sector in terms of year-to-date returns.
Uber Technologies (UBER) 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 73.9%.
For Uber Technologies, the consensus EPS estimate for the current year has increased 374.1% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, DoorDash, Inc. belongs to the Internet - Services industry, which includes 41 individual stocks and currently sits at #92 in the Zacks Industry Rank. This group has gained an average of 53.3% so far this year, so DASH is slightly underperforming its industry in this area. Uber Technologies is also part of the same industry.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to DoorDash, Inc. and Uber Technologies as they could maintain their solid performance.
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