DocuSign (DOCU - Free Report) closed at $52.57 in the latest trading session, marking a -0.47% move from the prior day. This move lagged the S&P 500's daily of 0%. At the same time, the Dow added 0.07%, and the tech-heavy Nasdaq gained 0.06%.
Prior to today's trading, shares of the provider of electronic signature technology had lost 18.74% over the past month. This has lagged the Business Services sector's gain of 0.87% and the S&P 500's gain of 0.78% in that time.
Wall Street will be looking for positivity from DOCU as it approaches its next earnings report date. This is expected to be December 5, 2018.
Any recent changes to analyst estimates for DOCU should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 7.42% lower. DOCU is holding a Zacks Rank of #3 (Hold) right now.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 110, putting it in the top 43% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.