In the latest trading session, Fastly (FSLY) closed at $56.96, marking a -0.44% move from the previous day. This move was narrower than the S&P 500’s daily loss of 1.31%.
Prior to today’s trading, shares of the cloud software developer had gained 30.68% over the past month. This has outpaced the Computer and Technology sector’s gain of 7.7% and the S&P 500’s gain of 1.56% in that time.
FSLY will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.16, down 900% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $86 million, up 15.19% from the year-ago period.
FSLY’s full-year Zacks Consensus Estimates are calling for earnings of -$0.41 per share and revenue of $380.74 million. These results would represent year-over-year changes of -127.78% and +30.9%, respectively.
Investors might also notice recent changes to analyst estimates for FSLY. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 has moved 3.03% higher. FSLY currently has a Zacks Rank of #3 (Hold).
The Internet – Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 211, putting it in the bottom 17% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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