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Fastly (FSLY) Stock Moves -0.49%: What You Should Know
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Fastly (FSLY - Free Report) closed at $14.15 in the latest trading session, marking a -0.49% move from the prior day. The stock outperformed the S&P 500, which registered a daily loss of 1.18%. Meanwhile, the Dow lost 0.76%, and the Nasdaq, a tech-heavy index, lost 1.76%.
The cloud software developer's stock has dropped by 22.38% in the past month, falling short of the Computer and Technology sector's loss of 2.96% and the S&P 500's loss of 3.35%.
The investment community will be paying close attention to the earnings performance of Fastly in its upcoming release. The company is slated to reveal its earnings on November 1, 2023. It is anticipated that the company will report an EPS of -$0.07, marking a 50% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $126.21 million, up 16.33% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.23 per share and revenue of $506.42 million, indicating changes of +61.02% and +17.03%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for Fastly. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.11% increase. As of now, Fastly holds a Zacks Rank of #2 (Buy).
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 72, placing it within the top 29% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Fastly (FSLY) Stock Moves -0.49%: What You Should Know
Fastly (FSLY - Free Report) closed at $14.15 in the latest trading session, marking a -0.49% move from the prior day. The stock outperformed the S&P 500, which registered a daily loss of 1.18%. Meanwhile, the Dow lost 0.76%, and the Nasdaq, a tech-heavy index, lost 1.76%.
The cloud software developer's stock has dropped by 22.38% in the past month, falling short of the Computer and Technology sector's loss of 2.96% and the S&P 500's loss of 3.35%.
The investment community will be paying close attention to the earnings performance of Fastly in its upcoming release. The company is slated to reveal its earnings on November 1, 2023. It is anticipated that the company will report an EPS of -$0.07, marking a 50% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $126.21 million, up 16.33% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.23 per share and revenue of $506.42 million, indicating changes of +61.02% and +17.03%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for Fastly. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.11% increase. As of now, Fastly holds a Zacks Rank of #2 (Buy).
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 72, placing it within the top 29% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.