The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. 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 613 companies in the Computer and Technology group. The Computer and Technology group currently sits at #3 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 is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. FSLY 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 22.79% 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 83.41% on a year-to-date basis. Meanwhile, stocks in the Computer and Technology group have lost about 0.95% on average. As we can see, Fastly is performing better than its sector in the calendar year.
Breaking things down more, FSLY is a member of the Internet - Software industry, which includes 90 individual companies and currently sits at #26 in the Zacks Industry Rank. On average, this group has gained an average of 21.23% so far this year, meaning that FSLY is performing better in terms of year-to-date returns.
FSLY will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company.