Is Dropbox (DBX) Outperforming Other Computer and Technology Stocks This Year?
Investors focused on the Computer and Technology space have likely heard of Dropbox (DBX), but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
Dropbox is a member of the Computer and Technology sector. This group includes 606 individual stocks and currently holds a Zacks Sector Rank of #7. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. DBX is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for DBX's full-year earnings has moved 593.33% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, DBX has returned 27.02% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 18.69% on a year-to-date basis. This means that Dropbox is performing better than its sector in terms of year-to-date returns.
To break things down more, DBX belongs to the Internet - Services industry, a group that includes 47 individual companies and currently sits at #122 in the Zacks Industry Rank. On average, this group has gained an average of 16.39% so far this year, meaning that DBX is performing better in terms of year-to-date returns.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to DBX as it looks to continue its solid performance.
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