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Are Computer and Technology Stocks Lagging DigitalOcean (DOCN) This Year?
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For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Has DigitalOcean Holdings, Inc. (DOCN - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
DigitalOcean Holdings, Inc. is one of 642 companies in the Computer and Technology group. The Computer and Technology group currently sits at #13 within the Zacks Sector Rank. 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 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. DigitalOcean Holdings, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for DOCN's full-year earnings has moved 785.4% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, DOCN has moved about 27% on a year-to-date basis. Meanwhile, the Computer and Technology sector has returned an average of 22.1% on a year-to-date basis. This means that DigitalOcean Holdings, Inc. is outperforming the sector as a whole this year.
Another stock in the Computer and Technology sector, Rambus (RMBS - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 38.5%.
Over the past three months, Rambus' consensus EPS estimate for the current year has increased 2.5%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, DigitalOcean Holdings, Inc. is a member of the Internet - Software industry, which includes 147 individual companies and currently sits at #111 in the Zacks Industry Rank. On average, stocks in this group have gained 26.2% this year, meaning that DOCN is performing better in terms of year-to-date returns.
Rambus, however, belongs to the Electronics - Semiconductors industry. Currently, this 40-stock industry is ranked #169. The industry has moved +18.7% so far this year.
Investors with an interest in Computer and Technology stocks should continue to track DigitalOcean Holdings, Inc. and Rambus. These stocks will be looking to continue their solid performance.
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Are Computer and Technology Stocks Lagging DigitalOcean (DOCN) This Year?
For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Has DigitalOcean Holdings, Inc. (DOCN - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
DigitalOcean Holdings, Inc. is one of 642 companies in the Computer and Technology group. The Computer and Technology group currently sits at #13 within the Zacks Sector Rank. 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 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. DigitalOcean Holdings, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for DOCN's full-year earnings has moved 785.4% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, DOCN has moved about 27% on a year-to-date basis. Meanwhile, the Computer and Technology sector has returned an average of 22.1% on a year-to-date basis. This means that DigitalOcean Holdings, Inc. is outperforming the sector as a whole this year.
Another stock in the Computer and Technology sector, Rambus (RMBS - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 38.5%.
Over the past three months, Rambus' consensus EPS estimate for the current year has increased 2.5%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, DigitalOcean Holdings, Inc. is a member of the Internet - Software industry, which includes 147 individual companies and currently sits at #111 in the Zacks Industry Rank. On average, stocks in this group have gained 26.2% this year, meaning that DOCN is performing better in terms of year-to-date returns.
Rambus, however, belongs to the Electronics - Semiconductors industry. Currently, this 40-stock industry is ranked #169. The industry has moved +18.7% so far this year.
Investors with an interest in Computer and Technology stocks should continue to track DigitalOcean Holdings, Inc. and Rambus. These stocks will be looking to continue their solid performance.