Yahoo Finance Fastly (FSLY) Dips More Than Broader Markets: What You Should Know
Fastly (FSLY) closed at $14.84 in the latest trading session, marking a -0.8% move from the prior day. This change lagged the S&P 500's daily loss of 0.38%. At the same time, the Dow lost 0.68%, and the tech-heavy Nasdaq lost 10.47%.
Coming into today, shares of the cloud software developer had lost 8.89% in the past month. In that same time, the Computer and Technology sector lost 1.96%, while the S&P 500 gained 2.61%.
Fastly will be looking to display strength as it nears its next earnings release, which is expected to be May 3, 2023. On that day, Fastly is projected to report earnings of -$0.10 per share, which would represent year-over-year growth of 33.33%. Meanwhile, our latest consensus estimate is calling for revenue of $116.17 million, up 13.47% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.25 per share and revenue of $500.97 million. These totals would mark changes of +57.63% and +15.77%, respectively, from last year.
Any recent changes to analyst estimates for Fastly should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.17% higher. Fastly is holding a Zacks Rank of #3 (Hold) right now.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 58, which puts it in the top 24% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Fastly, Inc. (FSLY) : Free Stock Analysis Report
