Are Computer and Tech Stocks Falling Behind Fastly (FSLY) This Year?
So, the Computer and Technology gang has a bunch of cool stocks, but we always gotta keep an eye out for the ones that are really killing it. Fastly (FSLY) is one of those stocks that’s got a lot of folks interested, but how does it stack up against the rest of the gang? Let’s take a peek at how it’s been doing this year compared to its Computer and Technology buddies.
Fastly is part of our Computer and Technology crew, which has a whopping 625 different companies and is currently sitting at #6 in the Zacks Sector Rank. The Zacks Sector Rank looks at 16 different sector groups and ranks them based on how the individual stocks are doing within those groups.
The Zacks Rank focuses on earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a pretty good track record, and these stocks usually end up beating the market over the next one to three months. Right now, Fastly has a Zacks Rank of #2 (Buy).
In the past quarter, the Zacks Consensus Estimate for FSLY’s full-year earnings has gone up by 9.4%. This tells us that the analysts are feeling more positive about the stock’s earnings outlook.
Based on our latest data, FSLY has gone up by about 98.4% since the beginning of the year. Meanwhile, the Computer and Technology sector has seen an average return of 45.5% so far this year. This means that Fastly is doing better than the rest of the gang in terms of year-to-date returns.
Another stock in the Computer and Technology sector, Meta Platforms (META), has been outperforming the sector this year. Its year-to-date return is a whopping 177.7%.
The consensus estimate for Meta Platforms’ current year EPS has gone up by 6.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To dig deeper, Fastly is part of the Internet – Software industry, which includes 147 individual companies and is currently at #50 in the Zacks Industry Rank. This group has seen an average gain of 53.4% so far this year, so FSLY is doing better in this area. Meta Platforms is also part of the same industry.
It looks like Fastly and Meta Platforms could keep up their strong performance, so if you’re into Computer and Technology stocks, you might wanna keep an eye on these two.
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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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