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Is Fastly (FSLY) Outperforming Other Computer and Technology Stocks This Year?
Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Is Fastly (FSLY - Free Report) one of those stocks right now? 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 647 companies in the Computer and Technology group. The Computer and Technology group currently sits at #7 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Fastly is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for FSLY's full-year earnings has moved 14.9% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, FSLY has gained about 87.4% so far this year. In comparison, Computer and Technology companies have returned an average of 13.1%. This means that Fastly is performing better than its sector in terms of year-to-date returns.
One other Computer and Technology stock that has outperformed the sector so far this year is SAP (SAP - Free Report) . The stock is up 13.8% year-to-date.
The consensus estimate for SAP's current year EPS has increased 5.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Fastly belongs to the Internet - Software industry, a group that includes 146 individual stocks and currently sits at #80 in the Zacks Industry Rank. Stocks in this group have gained about 23% so far this year, so FSLY is performing better this group in terms of year-to-date returns.
In contrast, SAP falls under the Computer - Software industry. Currently, this industry has 38 stocks and is ranked #59. Since the beginning of the year, the industry has moved +8.5%.
Investors with an interest in Computer and Technology stocks should continue to track Fastly and SAP. These stocks will be looking to continue their solid performance.