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Is DocuSign (DOCU) Stock Outpacing Its Business Services Peers This Year?

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The Business Services group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has DocuSign (DOCU - 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.

DocuSign is a member of our Business Services group, which includes 194 different companies and currently sits at #5 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. DOCU is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for DOCU's full-year earnings has moved 1.09% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the most recent data, DOCU has returned 13.40% so far this year. In comparison, Business Services companies have returned an average of -21.46%. This shows that DocuSign is outperforming its peers so far this year.

To break things down more, DOCU belongs to the Technology Services industry, a group that includes 61 individual companies and currently sits at #58 in the Zacks Industry Rank. This group has lost an average of 17.28% so far this year, so DOCU is performing better in this area.

Investors with an interest in Business Services stocks should continue to track DOCU. The stock will be looking to continue its solid performance.


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