Is DoorDash (DASH) Stock Outpacing Its Computer and Technology Peers 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? A quick glance at the company’s year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
DoorDash, Inc. is a member of the Computer and Technology sector. This group includes 618 individual stocks and currently holds a Zacks Sector Rank of #1. 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 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. DoorDash, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for DASH’s full-year earnings has moved 1119.5% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that DASH has returned about 73.7% since the start of the calendar year. Meanwhile, stocks in the Computer and Technology group have gained about 36.2% on average. This shows that DoorDash, Inc. is outperforming its peers so far this year.
Another stock in the Computer and Technology sector, Innovid Corp. (CTV), has outperformed the sector so far this year. The stock’s year-to-date return is 106.7%.
For Innovid Corp. the consensus EPS estimate for the current year has increased 36.4% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, DoorDash, Inc. belongs to the Internet – Services industry, which includes 35 individual stocks and currently sits at #37 in the Zacks Industry Rank. On average, stocks in this group have gained 36.4% this year, meaning that DASH is performing better in terms of year-to-date returns.
On the other hand, Innovid Corp. belongs to the Internet – Software industry. This 145-stock industry is currently ranked #28. The industry has moved +37.4% year to date.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to DoorDash, Inc. and Innovid Corp. as they could maintain their solid performance.
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