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Has Dropbox (DBX) Outpaced Other Computer and Technology Stocks This Year?
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For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Dropbox (DBX - 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.
Dropbox is one of 614 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #10 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. DBX is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for DBX's full-year earnings has moved 50% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that DBX has returned about 7.09% since the start of the calendar year. At the same time, Computer and Technology stocks have gained an average of 21.95%. This means that Dropbox is performing better than its sector in terms of year-to-date returns.
To break things down more, DBX belongs to the Internet - Services industry, a group that includes 50 individual companies and currently sits at #180 in the Zacks Industry Rank. Stocks in this group have gained about 16.19% so far this year, so DBX is slightly underperforming its industry this group in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on DBX as it attempts to continue its solid performance.
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Has Dropbox (DBX) Outpaced Other Computer and Technology Stocks This Year?
For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Dropbox (DBX - 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.
Dropbox is one of 614 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #10 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. DBX is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for DBX's full-year earnings has moved 50% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that DBX has returned about 7.09% since the start of the calendar year. At the same time, Computer and Technology stocks have gained an average of 21.95%. This means that Dropbox is performing better than its sector in terms of year-to-date returns.
To break things down more, DBX belongs to the Internet - Services industry, a group that includes 50 individual companies and currently sits at #180 in the Zacks Industry Rank. Stocks in this group have gained about 16.19% so far this year, so DBX is slightly underperforming its industry this group in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on DBX as it attempts to continue its solid performance.