Fastly (FSLY - Free Report) closed at $21.60 in the latest trading session, marking a -0.51% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.23%. Elsewhere, the Dow gained 0.37%, while the tech-heavy Nasdaq added 0.07%.
The cloud software developer's shares have seen an increase of 18.25% over the last month, surpassing the Computer and Technology sector's gain of 11.06% and the S&P 500's gain of 5.3%.
Market participants will be closely following the financial results of Fastly in its upcoming release. The company plans to announce its earnings on February 14, 2024. The company is predicted to post an EPS of -$0.02, indicating a 75% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $139.25 million, indicating a 16.7% upward movement from the same quarter last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Fastly. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.28% lower. Fastly is currently sporting a Zacks Rank of #4 (Sell).
From a valuation perspective, Fastly is currently exchanging hands at a Forward P/E ratio of 868.4. This expresses a premium compared to the average Forward P/E of 30.98 of its industry.
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 92, finds itself in the top 37% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.2% per year. So be sure to give these hand picked 7 your immediate attention.
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Fastly (FSLY - Free Report) closed at $21.60 in the latest trading session, marking a -0.51% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.23%. Elsewhere, the Dow gained 0.37%, while the tech-heavy Nasdaq added 0.07%.
The cloud software developer's shares have seen an increase of 18.25% over the last month, surpassing the Computer and Technology sector's gain of 11.06% and the S&P 500's gain of 5.3%.
Market participants will be closely following the financial results of Fastly in its upcoming release. The company plans to announce its earnings on February 14, 2024. The company is predicted to post an EPS of -$0.02, indicating a 75% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $139.25 million, indicating a 16.7% upward movement from the same quarter last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Fastly. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.28% lower. Fastly is currently sporting a Zacks Rank of #4 (Sell).
From a valuation perspective, Fastly is currently exchanging hands at a Forward P/E ratio of 868.4. This expresses a premium compared to the average Forward P/E of 30.98 of its industry.
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 92, finds itself in the top 37% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.2% per year. So be sure to give these hand picked 7 your immediate attention.
See them now >>
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