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Is Dropbox (DBX) Stock Outpacing Its Computer and Technology Peers This Year?
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Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Dropbox (DBX - Free Report) 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? 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 one of 623 companies in the Computer and Technology group. The Computer and Technology group currently sits at #11 within 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 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 #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for DBX's full-year earnings has moved 120.35% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, DBX has gained about 18.61% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 14.75% on a year-to-date basis. As we can see, Dropbox is performing better than its sector in the calendar year.
Looking more specifically, DBX belongs to the Internet - Services industry, which includes 49 individual stocks and currently sits at #179 in the Zacks Industry Rank. On average, stocks in this group have gained 22.66% this year, meaning that DBX is slightly underperforming its industry in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track DBX. The stock will be looking to continue its solid performance.
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Is Dropbox (DBX) Stock Outpacing Its Computer and Technology Peers This Year?
Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Dropbox (DBX - Free Report) 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? 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 one of 623 companies in the Computer and Technology group. The Computer and Technology group currently sits at #11 within 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 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 #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for DBX's full-year earnings has moved 120.35% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, DBX has gained about 18.61% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 14.75% on a year-to-date basis. As we can see, Dropbox is performing better than its sector in the calendar year.
Looking more specifically, DBX belongs to the Internet - Services industry, which includes 49 individual stocks and currently sits at #179 in the Zacks Industry Rank. On average, stocks in this group have gained 22.66% this year, meaning that DBX is slightly underperforming its industry in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track DBX. The stock will be looking to continue its solid performance.