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Has DocuSign (DOCU) Outpaced Other Business Services Stocks This Year?

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Investors interested in Business Services stocks should always be looking to find the best-performing companies in the group. Is DocuSign (DOCU - Free Report) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Business Services peers, we might be able to answer that question.

DocuSign is one of 194 companies in the Business Services group. The Business Services group currently sits at #4 within 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 proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. DOCU is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for DOCU's full-year earnings has moved 1.63% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the most recent data, DOCU has returned 34.03% so far this year. At the same time, Business Services stocks have lost an average of 18.82%. As we can see, DocuSign is performing better than its sector in the calendar year.

Looking more specifically, DOCU belongs to the Technology Services industry, which includes 61 individual stocks and currently sits at #68 in the Zacks Industry Rank. On average, this group has lost an average of 10.52% so far this year, meaning that DOCU is performing better in terms of year-to-date returns.

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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