Fastly (FSLY) Gains But Lags Market: What You Should Know
In the latest trading session, Fastly (FSLY) closed at $86.70, marking a +0.65% move from the previous day. This move lagged the S&P 500's daily gain of 0.71%. Meanwhile, the Dow gained 0.56%, and the Nasdaq, a tech-heavy index, added 0.95%.
Heading into today, shares of the cloud software developer had gained 0.83% over the past month, lagging the Computer and Technology sector's gain of 0.85% and outpacing the S&P 500's gain of 0.17% in that time.
Wall Street will be looking for positivity from FSLY as it approaches its next earnings report date. In that report, analysts expect FSLY to post earnings of -$0.10 per share. This would mark no growth from the year-ago period. Our most recent consensus estimate is calling for quarterly revenue of $82.13 million, up 39.34% from the year-ago period.
Any recent changes to analyst estimates for FSLY should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. FSLY currently has a Zacks Rank of #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 192, which puts it in the bottom 25% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow FSLY in the coming trading sessions, be sure to utilize Zacks.com.
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