Investors focused on the Business Services space have likely heard of DocuSign (DOCU - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of DOCU and the rest of the Business Services group's stocks.
DocuSign is one of 194 individual stocks in the Business Services sector. Collectively, these companies sit at #7 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. 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 means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, DOCU has moved about 57.28% on a year-to-date basis. In comparison, Business Services companies have returned an average of -8.36%. This means that DocuSign is outperforming the sector as a whole this year.
Breaking things down more, DOCU is a member of the Technology Services industry, which includes 61 individual companies and currently sits at #65 in the Zacks Industry Rank. Stocks in this group have lost about 0.67% so far this year, so DOCU is performing better this group in terms of year-to-date returns.
Investors in the Business Services sector will want to keep a close eye on DOCU as it attempts to continue its solid performance.