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Is DoorDash (DASH) 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. Has DoorDash, Inc. (DASH - 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.
DoorDash, Inc. is a member of the Computer and Technology sector. This group includes 625 individual stocks and currently holds a Zacks Sector Rank of #5. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. DoorDash, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for DASH's full-year earnings has moved 31% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, DASH has gained about 93.8% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 46.3% on a year-to-date basis. As we can see, DoorDash, Inc. is performing better than its sector in the calendar year.
One other Computer and Technology stock that has outperformed the sector so far this year is ServiceNow (NOW - Free Report) . The stock is up 72.2% year-to-date.
In ServiceNow's case, the consensus EPS estimate for the current year increased 13.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, DoorDash, Inc. belongs to the Internet - Services industry, a group that includes 40 individual stocks and currently sits at #65 in the Zacks Industry Rank. On average, stocks in this group have gained 54.7% this year, meaning that DASH is performing better in terms of year-to-date returns.
In contrast, ServiceNow falls under the Computers - IT Services industry. Currently, this industry has 39 stocks and is ranked #58. Since the beginning of the year, the industry has moved +30%.
DoorDash, Inc. and ServiceNow could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.
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Is DoorDash (DASH) 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. Has DoorDash, Inc. (DASH - 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.
DoorDash, Inc. is a member of the Computer and Technology sector. This group includes 625 individual stocks and currently holds a Zacks Sector Rank of #5. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. DoorDash, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for DASH's full-year earnings has moved 31% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, DASH has gained about 93.8% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 46.3% on a year-to-date basis. As we can see, DoorDash, Inc. is performing better than its sector in the calendar year.
One other Computer and Technology stock that has outperformed the sector so far this year is ServiceNow (NOW - Free Report) . The stock is up 72.2% year-to-date.
In ServiceNow's case, the consensus EPS estimate for the current year increased 13.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, DoorDash, Inc. belongs to the Internet - Services industry, a group that includes 40 individual stocks and currently sits at #65 in the Zacks Industry Rank. On average, stocks in this group have gained 54.7% this year, meaning that DASH is performing better in terms of year-to-date returns.
In contrast, ServiceNow falls under the Computers - IT Services industry. Currently, this industry has 39 stocks and is ranked #58. Since the beginning of the year, the industry has moved +30%.
DoorDash, Inc. and ServiceNow could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.