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Are Computer and Technology Stocks Lagging Fastly (FSLY) This Year?
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The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Fastly (FSLY - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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 627 companies in the Computer and Technology group. The Computer and Technology group currently sits at #6 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Fastly is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for FSLY's full-year earnings has moved 0.5% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, FSLY has gained about 79.1% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 31% on average. This shows that Fastly is outperforming its peers so far this year.
Meta Platforms (META - Free Report) is another Computer and Technology stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 150.4%.
For Meta Platforms, the consensus EPS estimate for the current year has increased 7.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Fastly belongs to the Internet - Software industry, which includes 148 individual stocks and currently sits at #67 in the Zacks Industry Rank. On average, this group has gained an average of 41.3% so far this year, meaning that FSLY is performing better in terms of year-to-date returns. Meta Platforms is also part of the same industry.
Investors with an interest in Computer and Technology stocks should continue to track Fastly and Meta Platforms. These stocks will be looking to continue their solid performance.
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Are Computer and Technology Stocks Lagging Fastly (FSLY) This Year?
The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Fastly (FSLY - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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 627 companies in the Computer and Technology group. The Computer and Technology group currently sits at #6 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Fastly is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for FSLY's full-year earnings has moved 0.5% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, FSLY has gained about 79.1% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 31% on average. This shows that Fastly is outperforming its peers so far this year.
Meta Platforms (META - Free Report) is another Computer and Technology stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 150.4%.
For Meta Platforms, the consensus EPS estimate for the current year has increased 7.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Fastly belongs to the Internet - Software industry, which includes 148 individual stocks and currently sits at #67 in the Zacks Industry Rank. On average, this group has gained an average of 41.3% so far this year, meaning that FSLY is performing better in terms of year-to-date returns. Meta Platforms is also part of the same industry.
Investors with an interest in Computer and Technology stocks should continue to track Fastly and Meta Platforms. These stocks will be looking to continue their solid performance.