Fastly (FSLY) Dips More Than Broader Markets: What You Should Know

This story originally appeared on Zacks

(FSLY) closed quickly at $31.77 in the last trading session, recording a -1.15% move from the day before. The move delayed the S&P 500’s daily loss of 0.1%. Elsewhere, the Dow Jones lost 0.47%, while the big tech Nasdaq lost 0.47%.

– Zacks

As the day approaches, cloud software developer shares have lost 25.62% over the past month, trailing the computer and technology sector’s 1% loss and the S&P 500’s 3.67% gain in that time.

Wall Street will be looking for positivity from Fastly as it approaches the next earnings report date. On that day, Fastly is expected to report earnings of -$0.16 per share, which is a year over year decline of 77.78%. Meanwhile, our latest consensus estimate calls for revenue of $93.1 million, an increase of 12.65% over the prior year quarter.

Investors should also note any recent changes to analyst estimates for Fastly. These reviews help show the ever-changing nature of near-term business trends. As a result, we can interpret positive rating reviews as a good sign of the company’s business outlook.

Our research shows that these discretionary changes are directly correlated with near-term stock prices. Investors can take advantage of this using Zacks Rank. This model takes into account these changes in grading and provides a simple and actionable rating system.

Ranging from #1 (strong buy) to #5 (strong sell), the Zacks Rank system has a proven and externally audited track record of outperforming, with the #1 stock returning an average of +25% annually since 1988. Over the past month, The Zacks Consensus EPS estimate remained constant. Fastly holds a Zacks rating of #2 (Buy) now.

Internet – The software industry is part of the computer and technology sector. The industry currently has a Zacks Industry Rating of 180, placing it in the bottom 30% of all 250+ industries.

The Zacks Industry Ranking measures the strength of our individual industry groups by measuring the average Zacks rating of the individual stocks within the groups. Our research shows that industries ranked 50% outperform the bottom half by a factor of 2 to 1.

Be sure to use Zacks.com to keep track of all these stock movement metrics and more in upcoming trading sessions.

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