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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? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.

Fastly is a member of our Computer and Technology group, which includes 625 different companies and currently sits at #6 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.

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).

Within the past quarter, the Zacks Consensus Estimate for FSLY's full-year earnings has moved 9.4% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

According to our latest data, FSLY has moved about 98.4% on a year-to-date basis. Meanwhile, the Computer and Technology sector has returned an average of 45.5% on a year-to-date basis. This means that Fastly is performing better than its sector in terms of year-to-date returns.

Another stock in the Computer and Technology sector, Meta Platforms (META - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 177.7%.

The consensus estimate for Meta Platforms' current year EPS has increased 6.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

To break things down more, Fastly belongs to the Internet - Software industry, a group that includes 147 individual companies and currently sits at #50 in the Zacks Industry Rank. This group has gained an average of 53.4% so far this year, so FSLY is performing better in this area. Meta Platforms is also part of the same industry.

Fastly and Meta Platforms could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.


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