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Is Dropbox (DBX) Outperforming 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? Let's take a closer look at the stock's year-to-date performance to find out.

Dropbox is one of 607 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #9 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 #1 (Strong Buy).

The Zacks Consensus Estimate for DBX's full-year earnings has moved 580% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Based on the latest available data, DBX has gained about 21.55% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 11.04% on average. This means that Dropbox is performing better than its sector in terms of year-to-date returns.

Breaking things down more, DBX is a member of the Internet - Services industry, which includes 48 individual companies and currently sits at #76 in the Zacks Industry Rank. On average, this group has gained an average of 9.86% so far this year, meaning that DBX is performing better in terms of year-to-date returns.

Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to DBX as it looks to continue its solid performance.


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Zacks Investment Research