Fastly (FSLY) closed at $83.57 in the latest trading session, marking a +0.76% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.58%. Meanwhile, the Dow gained 0.62%, and the Nasdaq, a tech-heavy index, added 0.24%.
Heading into today, shares of the cloud software developer had gained 9.28% over the past month, outpacing the Computer and Technology sector's gain of 7.08% and the S&P 500's gain of 5.34% in that time.
FSLY will be looking to display strength as it nears its next earnings release, which is expected to be August 5, 2020. The company is expected to report EPS of -$0.01, up 93.75% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $71.65 million, up 55.19% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.13 per share and revenue of $288.52 million. These totals would mark changes of +75% and +43.93%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for FSLY. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.28% higher. FSLY currently has a Zacks Rank of #2 (Buy).
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 84, which puts it in the top 34% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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