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Are Computer and Technology Stocks Lagging DigitalOcean (DOCN) 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. DigitalOcean Holdings, Inc. (DOCN - 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.
DigitalOcean Holdings, Inc. is one of 619 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #4 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 system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. 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 12.7% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, DOCN has moved about 127.5% on a year-to-date basis. Meanwhile, stocks in the Computer and Technology group have gained about 18.9% on average. This shows that DigitalOcean Holdings, Inc. is outperforming its peers so far this year.
Another Computer and Technology stock, which has outperformed the sector so far this year, is Motorola (MSI - Free Report) . The stock has returned 19.1% year-to-date.
Over the past three months, Motorola's consensus EPS estimate for the current year has increased 4.5%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, DigitalOcean Holdings, Inc. belongs to the Internet - Software industry, a group that includes 178 individual companies and currently sits at #81 in the Zacks Industry Rank. This group has gained an average of 8.3% so far this year, so DOCN is performing better in this area.
Motorola, however, belongs to the Wireless Equipment industry. Currently, this 12-stock industry is ranked #45. The industry has moved +14.8% so far this year.
Investors interested in the Computer and Technology sector may want to keep a close eye on DigitalOcean Holdings, Inc. and Motorola as they attempt to continue their solid performance.
View the Zacks #1 Rank List
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Are Computer and Technology Stocks Lagging DigitalOcean (DOCN) This Year?
Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. DigitalOcean Holdings, Inc. (DOCN - 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.
DigitalOcean Holdings, Inc. is one of 619 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #4 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 system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. 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 12.7% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, DOCN has moved about 127.5% on a year-to-date basis. Meanwhile, stocks in the Computer and Technology group have gained about 18.9% on average. This shows that DigitalOcean Holdings, Inc. is outperforming its peers so far this year.
Another Computer and Technology stock, which has outperformed the sector so far this year, is Motorola (MSI - Free Report) . The stock has returned 19.1% year-to-date.
Over the past three months, Motorola's consensus EPS estimate for the current year has increased 4.5%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, DigitalOcean Holdings, Inc. belongs to the Internet - Software industry, a group that includes 178 individual companies and currently sits at #81 in the Zacks Industry Rank. This group has gained an average of 8.3% so far this year, so DOCN is performing better in this area.
Motorola, however, belongs to the Wireless Equipment industry. Currently, this 12-stock industry is ranked #45. The industry has moved +14.8% so far this year.
Investors interested in the Computer and Technology sector may want to keep a close eye on DigitalOcean Holdings, Inc. and Motorola as they attempt to continue their solid performance.