Fastly (FSLY) Dips More Than Broader Markets: What You Should Know

Zacks Equity Research

Fastly (FSLY) closed the most recent trading day at $89.51, moving -0.79% from the previous trading session. This change lagged the S&P 500's 0.22% loss on the day. At the same time, the Dow lost 0.23%, and the tech-heavy Nasdaq lost 0.38%.

Heading into today, shares of the cloud software developer had gained 6.43% over the past month, outpacing the Computer and Technology sector's gain of 5.2% and the S&P 500's gain of 2.78% in that time.

FSLY will be looking to display strength as it nears its next earnings release. In that report, analysts expect FSLY to post earnings of -$0.10 per share. This would mark no growth from the year-ago period. Meanwhile, our latest consensus estimate is calling for revenue of $82.13 million, up 39.34% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.18 per share and revenue of $290.35 million, which would represent changes of +65.38% and +44.84%, respectively, from the prior year.

Investors should also note any recent changes to analyst estimates for FSLY. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

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.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. FSLY is holding a Zacks Rank of #3 (Hold) right now.

The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 191, which puts it in the bottom 26% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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