Is DoorDash (DASH) Outperforming Other Computer and Technology Stocks This Year?
Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Has DoorDash, Inc. (DASH) been one of those stocks this year? Let’s take a closer look at the stock’s year-to-date performance to find out.
DoorDash, Inc. is a member of our Computer and Technology group, which includes 607 different companies and currently sits at #6 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. DoorDash, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for DASH’s full-year earnings has moved 14.5% higher. This signals that analyst sentiment is improving and the stock’s earnings outlook is more positive.
Our latest available data shows that DASH has returned about 19.2% since the start of the calendar year. Meanwhile, stocks in the Computer and Technology group have lost about 0.7% on average. This shows that DoorDash, Inc. is outperforming its peers so far this year.
Another stock in the Computer and Technology sector, Appian (APPN), has outperformed the sector so far this year. The stock’s year-to-date return is 1.1%.
Over the past three months, Appian’s consensus EPS estimate for the current year has increased 4.8%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, DoorDash, Inc. belongs to the Internet – Services industry, a group that includes 34 individual stocks and currently sits at #80 in the Zacks Industry Rank. Stocks in this group have lost about 3.5% so far this year, so DASH is performing better this group in terms of year-to-date returns.
Appian, however, belongs to the Internet – Software industry. Currently, this 150-stock industry is ranked #83. The industry has moved -0.9% so far this year.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to DoorDash, Inc. and Appian as they could maintain their solid performance.
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