Yahoo Finance Is DoorDash (DASH) Outperforming Other Computer and Technology Stocks This Year?
The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. 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 one of 643 companies in the Computer and Technology group. The Computer and Technology group currently sits at #8 within 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).
The Zacks Consensus Estimate for DASH's full-year earnings has moved 13.3% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, DASH has gained about 25.9% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 20.2% on average. This means that DoorDash, Inc. is outperforming the sector as a whole this year.
Lattice Semiconductor (LSCC) is another Computer and Technology stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 42.3%.
Over the past three months, Lattice Semiconductor's consensus EPS estimate for the current year has increased 4.8%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, DoorDash, Inc. belongs to the Internet - Services industry, which includes 43 individual stocks and currently sits at #72 in the Zacks Industry Rank. Stocks in this group have gained about 21% so far this year, so DASH is performing better this group in terms of year-to-date returns.
Lattice Semiconductor, however, belongs to the Electronics - Semiconductors industry. Currently, this 40-stock industry is ranked #86. The industry has moved +21.1% so far this year.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to DoorDash, Inc. and Lattice Semiconductor as they could maintain their solid performance.
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