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Has Fastly (FSLY) Outpaced Other Computer and Technology Stocks This Year?

Zacks Equity Research
·2-min read

The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Fastly (FSLY) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.

Fastly is one of 611 companies in the Computer and Technology group. The Computer and Technology group currently sits at #8 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. FSLY is currently sporting a Zacks Rank of #1 (Strong Buy).

Within the past quarter, the Zacks Consensus Estimate for FSLY's full-year earnings has moved 25.06% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

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According to our latest data, FSLY has moved about 265.07% on a year-to-date basis. In comparison, Computer and Technology companies have returned an average of 11.23%. As we can see, Fastly is performing better than its sector in the calendar year.

Looking more specifically, FSLY belongs to the Internet - Software industry, a group that includes 90 individual stocks and currently sits at #40 in the Zacks Industry Rank. Stocks in this group have gained about 49.27% so far this year, so FSLY is performing better this group in terms of year-to-date returns.

Investors with an interest in Computer and Technology stocks should continue to track FSLY. The stock will be looking to continue its solid performance.


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Zacks Investment Research