Is DoorDash (DASH) Stock Outpacing Its Computer and Technology Peers This Year?

For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. DoorDash, Inc. (DASH) 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? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.DoorDash, Inc. is a member of our Computer and Technology group, which includes 605 different companies and currently sits at #1 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 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. DoorDash, Inc. is currently sporting a Zacks Rank of #2 (Buy).Within the past quarter, the Zacks Consensus Estimate for DASH's full-year earnings has moved 14.5% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.Our latest available data shows that DASH has returned about 50.4% since the start of the calendar year. In comparison, Computer and Technology companies have returned an average of 23%. This shows that DoorDash, Inc. is outperforming its peers so far this year.One other Computer and Technology stock that has outperformed the sector so far this year is Lumentum (LITE). The stock is up 88.3% year-to-date.In Lumentum's case, the consensus EPS estimate for the current year increased 95% over the past three months. The stock currently has a Zacks Rank #2 (Buy).Looking more specifically, DoorDash, Inc. belongs to the Internet - Services industry, a group that includes 35 individual stocks and currently sits at #95 in the Zacks Industry Rank. On average, this group has gained an average of 32.5% so far this year, meaning that DASH is performing better in terms of year-to-date returns. Lumentum, however, belongs to the Communication - Components industry. Currently, this 11-stock industry is ranked #75. The industry has moved +71.6% so far this year.Investors with an interest in Computer and Technology stocks should continue to track DoorDash, Inc. and Lumentum. These stocks will be looking to continue their solid performance.Radical New Technology Could Hand Investors Huge GainsQuantum Computing is the next technological revolution, and it could be even more advanced than AI.While some believed the technology was years away, it is already present and moving fast. Large hyperscalers, such as Microsoft, Google, Amazon, Oracle, and even Meta and Tesla, are scrambling to integrate quantum computing into their infrastructure.Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power.Kevin was among the early experts who recognized NVIDIA's enormous potential back in 2016. Now, he has keyed in on what could be "the next big thing" in quantum computing supremacy. Today, you have a rare chance to position your portfolio at the forefront of this opportunity.See Top Quantum Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report DoorDash, Inc. (DASH): Free Stock Analysis Report Lumentum Holdings Inc. (LITE): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks