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Has DocuSign (DOCU) Outpaced Other Business Services Stocks This Year?

Zacks Equity Research
·2-min read

For those looking to find strong Business Services stocks, it is prudent to search for companies in the group that are outperforming their peers. DocuSign (DOCU) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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 a member of our Business Services group, which includes 243 different companies and currently sits at #11 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

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. DOCU is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for DOCU's full-year earnings has moved 115.63% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

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Our latest available data shows that DOCU has returned about 32.75% since the start of the calendar year. Meanwhile, stocks in the Business Services group have lost about 15.65% on average. This means that DocuSign is performing better than its sector in terms of year-to-date returns.

To break things down more, DOCU belongs to the Technology Services industry, a group that includes 105 individual companies and currently sits at #188 in the Zacks Industry Rank. Stocks in this group have lost about 21.07% so far this year, so DOCU is performing better this group in terms of year-to-date returns.

Investors with an interest in Business Services stocks should continue to track DOCU. The stock will be looking to continue its solid performance.


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Zacks Investment Research