Fastly (FSLY) Stock Moves -0.29%: What You Should Know

In the latest trading session, Fastly (FSLY) closed at $17.02, marking a -0.29% move from the previous day. This move was narrower than the S&P 500's daily loss of 2.77%. Meanwhile, the Dow lost 2.82%, and the Nasdaq, a tech-heavy index, lost 0.83%.

Heading into today, shares of the cloud software developer had lost 3.01% over the past month, outpacing the Computer and Technology sector's loss of 6.75% and lagging the S&P 500's loss of 1.35% in that time.

Wall Street will be looking for positivity from Fastly as it approaches its next earnings report date. This is expected to be May 4, 2022. On that day, Fastly is projected to report earnings of -$0.14 per share, which would represent a year-over-year decline of 16.67%. Meanwhile, our latest consensus estimate is calling for revenue of $99.38 million, up 17.12% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.55 per share and revenue of $409.92 million, which would represent changes of -14.58% and +15.69%, respectively, from the prior year.

It is also important to note the recent changes to analyst estimates for Fastly. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

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. The Zacks Consensus EPS estimate has moved 0.08% higher within the past month. Fastly currently has a Zacks Rank of #2 (Buy).

The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 178, putting it in the bottom 30% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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