Are Computer and Technology Stocks Lagging Fastly (FSLY) This Year?
Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Has Fastly (FSLY) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
Fastly is one of 649 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #8 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Fastly is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for FSLY's full-year earnings has moved 2.5% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that FSLY has returned about 94.1% since the start of the calendar year. Meanwhile, stocks in the Computer and Technology group have gained about 12.9% on average. As we can see, Fastly is performing better than its sector in the calendar year.
One other Computer and Technology stock that has outperformed the sector so far this year is Compass, Inc. (COMP). The stock is up 66.5% year-to-date.
Over the past three months, Compass, Inc.'s consensus EPS estimate for the current year has increased 8.9%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Fastly is a member of the Internet - Software industry, which includes 148 individual companies and currently sits at #76 in the Zacks Industry Rank. This group has gained an average of 20.4% so far this year, so FSLY is performing better in this area. Compass, Inc. is also part of the same industry.
Investors with an interest in Computer and Technology stocks should continue to track Fastly and Compass, Inc. These stocks will be looking to continue their solid performance.
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