Yahoo Finance Fastly (FSLY) Gains But Lags Market: What You Should Know
Fastly (FSLY) closed the most recent trading day at $16.42, moving +0.06% from the previous trading session. This change lagged the S&P 500's 1.33% gain on the day. Elsewhere, the Dow gained 1.14%, while the tech-heavy Nasdaq added 2.94%.
Prior to today's trading, shares of the cloud software developer had gained 12.63% over the past month. This has outpaced the Computer and Technology sector's gain of 8.77% and the S&P 500's gain of 6.11% in that time.
Investors will be hoping for strength from Fastly as it approaches its next earnings release, which is expected to be May 3, 2023. In that report, analysts expect Fastly to post earnings of -$0.10 per share. This would mark year-over-year growth of 33.33%. Meanwhile, our latest consensus estimate is calling for revenue of $116.3 million, up 13.6% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.25 per share and revenue of $501.07 million. These totals would mark changes of +57.63% and +15.79%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Fastly. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 remained stagnant. Fastly is currently sporting a Zacks Rank of #2 (Buy).
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 55, putting it in the top 22% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Fastly, Inc. (FSLY) : Free Stock Analysis Report
