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Has Dropbox (DBX) Outpaced Other Computer and Technology Stocks This Year?

Zacks Equity Research
·2-min read

Investors focused on the Computer and Technology space have likely heard of Dropbox (DBX), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of DBX and the rest of the Computer and Technology group's stocks.

Dropbox is one of 616 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #2 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

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. DBX is currently sporting a Zacks Rank of #1 (Strong Buy).

The Zacks Consensus Estimate for DBX's full-year earnings has moved 135.71% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

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According to our latest data, DBX has moved about 4.61% on a year-to-date basis. Meanwhile, stocks in the Computer and Technology group have lost about 6.28% on average. This shows that Dropbox is outperforming its peers so far this year.

Looking more specifically, DBX belongs to the Internet - Services industry, which includes 49 individual stocks and currently sits at #24 in the Zacks Industry Rank. On average, this group has lost an average of 7.24% so far this year, meaning that DBX is performing better 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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Zacks Investment Research