Fastly (FSLY) closed at $80.67 in the latest trading session, marking a +0.7% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.65%. Meanwhile, the Dow lost 0.77%, and the Nasdaq, a tech-heavy index, lost 1.27%.
Coming into today, shares of the cloud software developer had gained 2.51% in the past month. In that same time, the Computer and Technology sector gained 7.86%, while the S&P 500 gained 7.76%.
Investors will be hoping for strength from FSLY as it approaches its next earnings release, which is expected to be August 5, 2020. The company is expected to report EPS of -$0.01, up 93.75% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $71.65 million, up 55.19% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.13 per share and revenue of $288.52 million, which would represent changes of +75% and +43.93%, respectively, from the prior year.
Any recent changes to analyst estimates for FSLY 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.
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.
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. The Zacks Consensus EPS estimate has moved 2.28% higher within the past month. FSLY is holding a Zacks Rank of #2 (Buy) right now.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 108, which puts it in the top 43% 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.
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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