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Is DocuSign (DOCU) Outperforming Other Business Services Stocks This Year?

Zacks Equity Research
Updated ·2-min read

The Business Services group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is DocuSign (DOCU) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Business Services peers, we might be able to answer that question.

DocuSign is a member of the Business Services sector. This group includes 195 individual stocks and currently holds a Zacks Sector Rank of #11. 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 model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. DOCU is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for DOCU's full-year earnings has moved 6.81% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

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Based on the most recent data, DOCU has returned 118.20% so far this year. In comparison, Business Services companies have returned an average of -2.28%. As we can see, DocuSign is performing better than its sector in the calendar year.

To break things down more, DOCU belongs to the Technology Services industry, a group that includes 61 individual companies and currently sits at #72 in the Zacks Industry Rank. On average, stocks in this group have gained 14.04% this year, meaning that DOCU is performing better 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.

Click to get this free report DocuSign Inc. (DOCU) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research