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Here's Why Fastly (FSLY) Fell More Than Broader Market
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Fastly (FSLY - Free Report) closed at $12.75 in the latest trading session, marking a -0.93% move from the prior day. This move lagged the S&P 500's daily loss of 0.14%. Meanwhile, the Dow lost 0.77%, and the Nasdaq, a tech-heavy index, added 0.17%.
The cloud software developer's shares have seen a decrease of 12.15% over the last month, not keeping up with the Computer and Technology sector's gain of 6.81% and the S&P 500's gain of 5.34%.
The investment community will be closely monitoring the performance of Fastly in its forthcoming earnings report. The company is forecasted to report an EPS of -$0.07, showcasing a 22.22% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $133.09 million, indicating a 13.21% upward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.03 per share and revenue of $585.65 million. These totals would mark changes of +82.35% and +15.74%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Fastly. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Fastly presently features a Zacks Rank of #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 40, placing it within the top 16% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Here's Why Fastly (FSLY) Fell More Than Broader Market
Fastly (FSLY - Free Report) closed at $12.75 in the latest trading session, marking a -0.93% move from the prior day. This move lagged the S&P 500's daily loss of 0.14%. Meanwhile, the Dow lost 0.77%, and the Nasdaq, a tech-heavy index, added 0.17%.
The cloud software developer's shares have seen a decrease of 12.15% over the last month, not keeping up with the Computer and Technology sector's gain of 6.81% and the S&P 500's gain of 5.34%.
The investment community will be closely monitoring the performance of Fastly in its forthcoming earnings report. The company is forecasted to report an EPS of -$0.07, showcasing a 22.22% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $133.09 million, indicating a 13.21% upward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.03 per share and revenue of $585.65 million. These totals would mark changes of +82.35% and +15.74%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Fastly. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Fastly presently features a Zacks Rank of #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 40, placing it within the top 16% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.