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

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Fastly (FSLY - Free Report) closed at $31.77 in the latest trading session, marking a -1.15% move from the prior day. This move lagged the S&P 500's daily loss of 0.1%. Elsewhere, the Dow lost 0.47%, while the tech-heavy Nasdaq lost 0.47%.

Heading into today, shares of the cloud software developer had lost 25.62% over the past month, lagging the Computer and Technology sector's loss of 1% and the S&P 500's gain of 3.67% in that time.

Wall Street will be looking for positivity from Fastly as it approaches its next earnings report date. On that day, Fastly is projected to report earnings of -$0.16 per share, which would represent a year-over-year decline of 77.78%. Meanwhile, our latest consensus estimate is calling for revenue of $93.1 million, up 12.65% from the prior-year quarter.

Investors should also note any recent changes to analyst estimates for Fastly. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Fastly is holding a Zacks Rank of #2 (Buy) right now.

The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 180, which puts it in the bottom 30% 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.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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