Fastly (FSLY) Outpaces Stock Market Gains: What You Should Know
Fastly (FSLY) closed the most recent trading day at $29.20, moving +1.88% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.69%. Elsewhere, the Dow gained 0.78%, while the tech-heavy Nasdaq added 0.28%.
Coming into today, shares of the cloud software developer had lost 21.05% in the past month. In that same time, the Computer and Technology sector lost 8.19%, while the S&P 500 lost 5.29%.
Wall Street will be looking for positivity from Fastly as it approaches its next earnings report date. This is expected to be February 16, 2022. In that report, analysts expect Fastly to post earnings of -$0.16 per share. This would mark a year-over-year decline of 77.78%. Our most recent consensus estimate is calling for quarterly revenue of $93.22 million, up 12.79% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Fastly. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection has moved 2.32% higher. Fastly is holding a Zacks Rank of #2 (Buy) right now.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 152, which puts it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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