Investors focused on the Computer and Technology space have likely heard of Dropbox (DBX - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
Dropbox is one of 630 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #5 in the Zacks Sector Rank. 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. DBX is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for DBX's full-year earnings has moved 164.29% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that DBX has returned about 2.46% since the start of the calendar year. Meanwhile, the Computer and Technology sector has returned an average of -11.10% 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, a group that includes 50 individual stocks and currently sits at #105 in the Zacks Industry Rank. This group has lost an average of 11.18% so far this year, so DBX is performing better in this area.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to DBX as it looks to continue its solid performance.