We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Fastly (FSLY) Stock Dips While Market Gains: Key Facts
Read MoreHide Full Article
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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Fastly (FSLY) Stock Dips While Market Gains: Key Facts
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.