Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Has DoorDash, Inc. (DASH) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
DoorDash, Inc. is one of 624 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #6 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. DoorDash, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for DASH's full-year earnings has moved 31.6% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that DASH has returned about 105.7% since the start of the calendar year. In comparison, Computer and Technology companies have returned an average of 49.9%. This shows that DoorDash, Inc. is outperforming its peers so far this year.
AppFolio (APPF) 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 74%.
Over the past three months, AppFolio's consensus EPS estimate for the current year has increased 118%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, DoorDash, Inc. is a member of the Internet - Services industry, which includes 40 individual companies and currently sits at #67 in the Zacks Industry Rank. On average, stocks in this group have gained 51.7% this year, meaning that DASH is performing better in terms of year-to-date returns.
AppFolio, however, belongs to the Internet - Software industry. Currently, this 147-stock industry is ranked #27. The industry has moved +64.9% so far this year.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to DoorDash, Inc. and AppFolio as they could maintain their solid performance.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
