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Has DocuSign (DOCU) Outpaced Other Business Services Stocks This Year?
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Investors focused on the Business Services space have likely heard of DocuSign (DOCU - Free Report) , 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 Business Services sector should help us answer this question.
DocuSign is one of 213 individual stocks in the Business Services sector. Collectively, these companies sit at #11 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. DOCU is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for DOCU's full-year earnings has moved 22.73% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, DOCU has moved about 14.78% on a year-to-date basis. At the same time, Business Services stocks have lost an average of 1.63%. This shows that DocuSign is outperforming its peers so far this year.
To break things down more, DOCU belongs to the Technology Services industry, a group that includes 82 individual companies and currently sits at #188 in the Zacks Industry Rank. Stocks in this group have gained about 12.35% so far this year, so DOCU is performing better this group in terms of year-to-date returns.
DOCU will likely be looking to continue its solid performance, so investors interested in Business Services stocks should continue to pay close attention to the company.
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Has DocuSign (DOCU) Outpaced Other Business Services Stocks This Year?
Investors focused on the Business Services space have likely heard of DocuSign (DOCU - Free Report) , 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 Business Services sector should help us answer this question.
DocuSign is one of 213 individual stocks in the Business Services sector. Collectively, these companies sit at #11 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. DOCU is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for DOCU's full-year earnings has moved 22.73% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, DOCU has moved about 14.78% on a year-to-date basis. At the same time, Business Services stocks have lost an average of 1.63%. This shows that DocuSign is outperforming its peers so far this year.
To break things down more, DOCU belongs to the Technology Services industry, a group that includes 82 individual companies and currently sits at #188 in the Zacks Industry Rank. Stocks in this group have gained about 12.35% so far this year, so DOCU is performing better this group in terms of year-to-date returns.
DOCU will likely be looking to continue its solid performance, so investors interested in Business Services stocks should continue to pay close attention to the company.