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Fastly FSLY shares have returned 10.5% over the past month, outperforming the broader Zacks Computer & Technology Sector’s decline of 2.6% and the Zacks Internet - Software industry’s return of 0.8%.
FSLY’s positive share price movement has been driven by revenue growth, which increased 8% year over year to $132.4 million in the second quarter of 2024, exceeding its guidance midpoint ($130 million to $134 million). This was driven by 13% growth in Security revenues and 6% growth in Network services revenues.
The year-over-year top-line growth highlights the success of its enhanced go-to-market strategy, improved customer acquisition and expanding sales through platform solutions.
Customer acquisition efforts saw solid progress in the second quarter of 2024, with the enterprise customer count rising to 601, a sequential increase of 4%. On a year-over-year basis, FSLY grew its enterprise customer count by 50. At the end of the second of 2024, the total customer base reached 3,295, a net increase of 5 compared to the previous quarter.
Fastly’s investment in edge cloud innovations and AI-driven solutions like the AI Accelerator are anticipated to drive future prospects. So, should investors jump into the FSLY stock based on these drivers?
Fastly, Inc. Price and Consensus
Fastly, Inc. price-consensus-chart | Fastly, Inc. Quote
Let’s dig deeper to find out.
Expanding Edge Computing Footprint Aids FSLY’s Prospects
Fastly is focusing on edge computing, which is becoming a key part of its platform, driving momentum with next-generation applications.
The Fastly platform, a software-driven edge network, delivers top-tier services, such as network delivery, security, computing and observability. The focus remains on investing in advanced technology innovations that strengthen the platform and enhance its capabilities for the future of web application development.
Fastly introduced the beta version of Fastly AI Accelerator, an AI proxy designed to boost performance and reduce costs for application developers by utilizing large language models.
Fastly's AI Accelerator harnesses the power of edge computing to provide exceptional global performance. Developers can integrate this technology with just a single line of code, enabling quick adoption and a streamlined, cost-effective development experience.
Security enhancements are an area the company is digging into. Fastly introduced new offerings, including an enhanced Managed Security Service with Bot Management and a 30-minute service level agreement for notifying customers of security incidents.
For 2024, the Zacks Consensus Estimate for revenues is pegged at $535.98 million, indicating year-over-year growth of 5.93%. The consensus mark for earnings loss is 14 cents per share, unchanged over the past 30 days.
Zacks Rank & Valuation
FSLY currently has a Zacks Rank #2 (Buy).
Although its Value Score of D suggests a stretched valuation at this moment, a strong portfolio and an expanding clientele justify this premium valuation.
Better Ranked Picks
Fortinet FTNT, PayPal PYPL and Aspen Technology AZPN are some better-ranked stocks in the same industry. Each stock currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The long-term earnings growth rate for Fortinet, PayPal and Aspen Technology is currently pegged at 16.25%, 15.90 and 13.12%, respectively.
Zacks Investment Research
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page.
Considering buying SBUX stock? Here’s what analysts think:
Read Next:
Latest Ratings for SBUX
Date | Firm | Action | From | To |
---|---|---|---|---|
Feb 2022 | Deutsche Bank | Maintains | Buy | |
Feb 2022 | MKM Partners | Maintains | Buy | |
Feb 2022 | Credit Suisse | Maintains | Outperform |
View More Analyst Ratings for SBUX
View the Latest Analyst Ratings
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Amphenol APH shares have gained 27.6% year to date (YTD), outperforming the broader Zacks Computer & Technology sector’s appreciation of 19.9% and the Zacks Electronics – Connectors industry’s return of 27.3%.
The momentum in APH shares can be attributed to its strong first-half 2024 results. Net sales grew 9% year over year organically and 15% at constant currency, driven by strong organic growth in key end markets, including IT datacom, commercial aerospace, automotive and defense markets, and moderate improvement in the mobile devices market, along with contributions from APH’s acquisition program.
Amphenol achieved record orders of $4.061 billion in second-quarter 2024, up 33% year over year and 21% on a sequential basis. APH saw strong bookings from IT datacom customers focused on AI. This strong performance resulted in a solid book-to-bill ratio of 1.12:1.
APH also raised the dividend payout by 50% to 16.5 cents per share, indicating strong liquidity. As of June 30, 2024, it had cash and cash equivalents worth $1.3 billion. In the first half of 2024, net cash flow increased 18.2% from the year-ago period to $1.26 billion.
Amphenol Corporation Price and Consensus
Amphenol Corporation price-consensus-chart | Amphenol Corporation Quote
Does APH’s robust portfolio, acquisitions and strong liquidity make the stock attractive? Let us analyze.
APH’s Q3 Outlook Looks Promising
Amphenol expects third-quarter 2024 adjusted earnings between 43 cents and 45 cents per share, indicating growth between 10% and 15% on a year-over-year basis.
Net sales are anticipated between $3.7 billion and $3.8 billion, indicating growth between 16% and 19% on a year-over-year basis.
The Zacks Consensus Estimate for third-quarter 2024 net sales is pegged at $3.77 billion, suggesting growth of 17.86% over the figure reported in the year-ago quarter.
The consensus mark for third-quarter 2024 earnings is pegged at 45 cents per share, unchanged over the past 30 days. The estimate indicates growth of 15.38% over the figure reported in the year-ago quarter.
Defense, Commercial Aerospace to Aid APH’s Q3 Sales
In terms of end-market, APH expects defense market sales (11% of second-quarter sales) to increase in the mid-single-digit range sequentially, including the benefit of acquisitions (like CIT) and a strong portfolio of high-technology interconnect products.
Commercial aerospace (5% of second-quarter net sales) sales are expected to increase in the mid-40% for third-quarter 2024, driven by the addition of a full quarter of CIT revenues.
Industrial sales (24% of second-quarter sales) are expected to grow in the mid-single-digit range sequentially. Acquisitions, including those of CIT and Lutze US, have expanded Amphenol’s footprint in this end market.
Mobile devices (8% of second-quarter sales) sales are anticipated to increase 20% sequentially. IT datacom (24% of second-quarter sales) sales are expected to grow modestly on a sequential basis.
Factors to Drive APH Stock
Amphenol’s diversified business model lowers the volatility of individual end markets and geographies. Its wide array of interconnect and sensor products boosts long-term prospects.
Acquisitions are helping Amphenol expand its position across a broad array of technologies and markets. In May, APH completed the acquisition of CIT, which expanded its footprint across defense, commercial air and industrial end markets.
The company completed the acquisition of Lutze US in May and expects to close Lutze Europe by the end of third-quarter 2024. On a combined basis, the Lutze business generates $175 million in annual sales. This acquisition strengthens APH’s broad offering of high-technology interconnect products for industrial markets and expands the range of value-added interconnect products.
The recently announced acquisition of CommScope’s Outdoor Wireless Networks (OWN) and Distributed Antenna Systems (DAS) businesses expands Amphenol’s footprint in the areas of base station antennas and related interconnect solutions, as well as distributed antenna systems. These businesses are expected to generate revenues of $1.2 billion, with an EBITDA margin of 25% in 2024.
Amphenol’s long-term prospects benefit strong spending by countries around next-generation defense technologies. Strong demand for jet-liners and next-gen aircraft is bullish for the commercial aerospace segment.
APH plans to expand its high-technology interconnect antenna and sensor offerings, both organically and through complementary acquisitions in the industrial domain. The pending DAS and OWN acquisitions will expand its footprint in the mobile networks market.
Amphenol’s solutions are critical for both high-speed power and fiber optic interconnect solutions. The growing use of AI and machine learning is driving these technologies, benefiting APH’s long-term prospects in the IT datacom end market.
These factors bode well for Amphenol’s top-line growth over the long term. Its strong cash flow generating ability is noteworthy. Amphenol expects to deliver a strong cash flow in the near term despite a slight rise in capital expenditure as it increases spending on defense and IT datacom markets.
Amphenol Trades at Premium
Amphenol’s Value Score of D suggests a stretched valuation at this moment.
In terms of forward P/E, APH is currently trading at 32.58X higher than the broader sector’s 26.07X.
Zacks Rank & Key Picks
Amphenol currently has a Zacks Rank #3 (Hold), which implies that investors should wait for better entry points in the stock.
AudioEye AEYE, Aspen Technology AZPN, and Fortinet FTNT are a few better-ranked stocks in the broader sector. Each of these stocks currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The long-term earnings growth rates for AudioEye, Aspen Technology and Fortinet are pegged at 25%, 13.12%, and 16.25%, respectively.
Zacks Investment Research
A short straddle is an advanced options strategy used when a trader is seeking to profit from an underlying stock trading in a narrow range.
To execute the strategy, a trader would sell a call and a put with the following conditions:
Since it involves having to sell both a call and a put, the trader gets to collect two premiums up-front, which also happens to be the maximum gain possible.
Due to the two premiums collected upfront, beginners are often attracted to this strategy without realizing the risks they face.
A short straddle can result in unlimited loss potential whenever a substantial move occurs so it should be used with caution, particularly around significant market events like an earnings announcement.
The opening position of this strategy means that you will start with a net credit and you will profit if the stock trades between the lower break-even point and the upper break-even point.
Let’s take a look at Barchart’s Short Straddle Screener for September 16th.
I have added a filter to only include stocks with a market capitalization greater than $40b and total call volume greater than 2,000.
The screener shows some interesting short straddle trades on popular stocks such as , , , , , , , and .
Let’s walk through a couple of examples.
WFC Stock Short Straddle Example
Let’s take a look at the first line item – a short straddle on Wells Fargo.
Using the October 18 expiry, the trade would involve selling the $52.50 strike call and the $52.50 strike put. The premium received for the trade would be $398 which is also the maximum profit.
The maximum loss is theoretically unlimited. The lower breakeven price is $48.52 and the upper breakeven price is $56.48. The premium received is equal to 7.54% of the stock price.
The Barchart Technical Opinion rating is a 56% Sell with a Strengthening short term outlook on maintaining the current direction.
PYPL Short Straddle Example
Let’s take a look at the fourth line item – a short straddle on PayPal.
Using the October 18 expiry, the trade would involve selling the $70 strike call and the $70 strike put. The premium received for the trade would be $516 which is also the maximum profit.
The maximum loss is theoretically unlimited. The lower breakeven price is $64.84 and the upper breakeven price is $75.16. The premium received is equal to 7.36% of the stock price.
The Barchart Technical Opinion rating is an 88% Buy with a Strongest short term outlook on maintaining the current direction.
Long term indicators fully support a continuation of the trend.
TSLA Short Straddle Example
Let’s take a look at one final straddle using Tesla.
Using the October 18 expiry, the trade would involve selling the $230 strike call and the $230 strike put. The premium received for the trade would be $3,515 which is also the maximum profit.
The maximum loss is theoretically unlimited. The lower breakeven price is $194.85 and the upper breakeven price is $265.15. The premium received is equal to 15.26%.
The Barchart Technical Opinion rating is a 72% Buy with a Strengthening short term outlook on maintaining the current direction.
Long term indicators fully support a continuation of the trend.
The market is approaching overbought territory. Be watchful of a trend reversal.
Mitigating Risk
Short straddles involve naked options and are highly risky. They should not be used by beginner traders.
Position sizing is important so that a large loss does not cause more than a 1-2% loss in total portfolio value.
Short straddles can also contain early assignment risk, so be mindful of as it gets close to the expiration date. Also, watch out for earnings dates as stocks can make big moves following their announcement.
Please remember that options are risky, and investors can lose 100% of their investment.
This article is for education purposes only and not a trade recommendation. Remember to always do your own due diligence and consult your financial advisor before making any investment decisions.
On the date of publication, Gavin McMaster did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policyhere.
Market volatility cratered last week as stocks bounced back from one of their worst weeks of the year. With the Fed rates decision looming, we could see volatility pick up this week.
That could mean it’s a good time to look for stock with a low implied volatility percentile.
A lot of stock are showing a low implied volatility percentile.
Pfizer for example, is showing implied volatility of 21% compared to a twelve-month low of 18% and a twelve-month high of 34%.
Implied volatility percentile is one of the most common metrics used when trading options.
IV Percentile is a measure of implied volatility where current implied volatility is compared to the range of implied volatilities in this past.
This comparison is made on the same stock.
For example, Palantir’s IV percentile takes the current implied volatility and compares it to the past implied volatilities Palantir has had.
This is then made into a percentage ranging from 0-100%.
A percentage of zero would depict a stock is currently at the lowest level of implied volatility it has been during the lookback period.
In contrast, an IV percentile of 100% illustrates that the stock is trading at its highest level of implied volatility.
To get a true picture of stocks with a low implied volatility percentile, we can use the Stock Screener.
Using the Stock Screener to Find Low Volatility Stocks
Using the Stock Screener, we can set the following filters to find stocks with low implied volatility percentile.
This screener gives us the following stocks ranked from lowest IV Percentile to highest:
Fidelity National Information Services
Here is the full list:
How To Use IV Percentile
As a general rule, when implied volatility percentile is low, it’s better to focus on long volatility trades such as debit spreads, long straddles and long strangles.
It also makes sense to compare a stock’s current IV Percentile to the market in general. If all stocks are showing low IV Percentile, then there might not be much of an edge in buying volatility on a specific stock. But, if general market implied volatility is high, that could be a good time to buy cheap volatility in some of the names above.
It’s also a good idea to keep an eye on the upcoming earnings dates as stocks can make big moves following earnings announcements.
Please remember that options are risky, and investors can lose 100% of their investment. This article is for education purposes only and not a trade recommendation. Remember to always do your own due diligence and consult your financial advisor before making any investment decisions.
On the date of publication, Gavin McMaster had a position in: BABA . All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
For Immediate Release
Chicago, IL – September 16, 2024 – Today, Zacks Equity Research discusses, PayPal PYPL, Aspen Technology AZPN and Box BOX.
Industry: Internet Software
Link: https://www.zacks.com/commentary/2335617/3-internet-software-stocks-to-buy-from-a-prospering-industry
The Zacks Internet Software industry is benefiting from accelerated demand for digital transformation and the ongoing shift to the cloud. The high demand for Software as a Service or SaaS-based solutions due to the increasing need for remote working, learning and diagnosis software has been a major driver for the industry players.
The growing demand for solutions that support hybrid operating environments is a key catalyst. The increasing deployment of AI and generative AI is driving prospects. The growing proliferation of Augmented and Virtual Reality devices is noteworthy. Increasingly sophisticated cyber-attacks are driving cybersecurity application demand. PayPal, Aspen Technology and Box are benefiting from these trends. However, heightened geopolitical risks, persistent inflation and high interest rates are major headwinds.
Industry Description
The Zacks Internet Software industry comprises companies offering application performance monitoring, as well as infrastructure and application software, DevOps deployment and Security software. Industry participants offer online payment solutions, asset optimization software, multi-cloud application security and delivery, social networking, 3D printing applications and cloud content management solutions.
They use the SaaS-based cloud computing model to deliver solutions to end-users, as well as enterprises. Hence, subscription is the primary revenue source. Advertising is also a major revenue source. Industry participants target a variety of end markets, including banking and financial services, construction, consumer packaged goods, education, energy, legal, various service providers, federal governments, and animal health technology and services.
3 Trends Shaping the Future of the Internet Software Industry
Adoption of SaaS Growing: The industry is benefiting from the continued demand for digital transformation. Growth prospects are alluring, primarily due to the rapid adoption of SaaS, which offers a flexible and cost-effective delivery method of applications. It also cuts down on deployment time than legacy systems.
SaaS attempts to deliver applications to any user, anywhere, anytime and on any device. It has been effective in addressing customer expectations of seamless communications across multiple channels, including voice, chat, email, web, social media and mobile. This increases customer satisfaction and raises the retention rate, driving the top lines of the industry participants.
Moreover, the SaaS delivery model has supported the industry players to deliver software applications amid the coronavirus-led lockdowns and shelter-in-place guidance. Remote working, learning and health diagnosis have also boosted the demand for SaaS-based software applications.
Pay-As-You-Go Model Gaining Traction: The increasing customer-centric approach is allowing end-users to perform all required actions with minimal intervention from software providers. The pay-as-you-go model helps Internet Software providers scale their offerings per the needs of different users. The subscription-based business model ensures recurring revenues for industry participants. The affordability of the SaaS delivery model, particularly for small and medium-sized businesses, is another major driver. The cloud-based applications are easy to use. Hence, the need for specialized training is reduced significantly, which lowers expenses, thereby driving profits.
Ongoing Transition to Cloud Creating Opportunities: The growing need to secure cloud platforms amid the increasing incidences of cyber-attacks and hacking drives the demand for web-based cyber security software. As enterprises continue to move their on-premise workload to cloud environments, application and infrastructure monitoring is gaining importance. This is increasing the demand for web-based performance management monitoring tools.
Zacks Industry Rank Indicates Bright Prospects
The Zacks Internet Software industry, placed within the broader Zacks Computer And Technology sector, carries a Zacks Industry Rank #88, which places it in the top 35% of more than 250 Zacks industries.
The group’s Zacks Industry Rank, which is the average of the Zacks Rank of all the member stocks, indicates bright near-term prospects. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than two to one.
The industry’s position in the top 35% of the Zacks-ranked industries is a result of a positive earnings outlook for the constituent companies in aggregate. Looking at the aggregate earnings estimate revisions, it appears that analysts are optimistic about this group’s earnings growth potential. The industry’s earnings estimates for 2024 have moved up 11.1% since Sept. 30, 2023.
Given the positive outlook of the industry, there are several stocks worth picking for healthy portfolio returns. However, before we present the top industry picks, it is worth looking at the industry’s shareholder returns and current valuation first.
Industry Beats S&P 500, Lags Sector
The Zacks Internet Software industry has underperformed the broader Zacks Computer and Technology sector but beat the S&P 500 Index in the past year.
The industry has returned 27.6% over this period compared with the S&P 500’s jump of 23.7% and the broader sector’s appreciation of 29.8%.
Industry's Current Valuation
On the basis of trailing 12-month price-to-sales (P/S), which is a commonly used multiple for valuing Internet Software stocks, we see that the industry is currently trading at 3.05X compared with the S&P 500’s 5.46X and the sector’s trailing 12-month P/S of 7.17X.
Over the last three years, the industry traded as high as 7.48X and as low as 1.68X, with a median of 3.48X.
3 Stocks to Buy Right Now
PayPal- This Zacks Rank #1 (Strong Buy) company is benefiting from robust growth in total payments volume. You can see the complete list of today’s Zacks #1 Rank stocks here.
PYPL is riding on strong customer engagement. Venmo’s improving monetization efforts and rising adoption rate across various platforms are aiding the total active accounts growth. The solid momentum of core peer-to-peer and PayPal Checkout experiences is a tailwind.
PYPL shares have gained 14.6% year to date. The Zacks Consensus Estimate for 2024 earnings has been unchanged at $4.42 per share over the past 30 days.
Aspen Technology- This Zacks Rank #1 company’s performance is being driven by ongoing momentum in the DGM and SSE segments. The integration efforts among the Heritage AspenTech, DGM and SSE businesses are encouraging developments.
Aspen Technology’s revenue growth continues to be driven by high demand for its asset optimization and management solutions. These solutions aid in optimizing process manufacturing by supporting real-time decision-making, predicting equipment failure, and providing the ability to forecast and simulate potential actions.
Aspen Technology shares have gained 2.2% year to date. The Zacks Consensus Estimate for AZPN’s fiscal 2025 earnings is pegged at $7.43 per share, unchanged over the past 30 days.
Box- This Zacks Rank #2 (Buy) company is benefiting from the growing adoption of Content Cloud and Enterprise Plus Suites. It has more than 1,800 total customers who paid at least $100,000 annually at the end of the second quarter of fiscal 2025.
Strong demand for Box AI has been a game-changer. Suites comprised 87% of BOX’s deals of more than $100,000, up from 78% reported in the year-ago period. Enterprise Plus comprised more than 95% of those deals.
BOX raised its fiscal 2025 top-line and earnings guidance. It now expects revenues in the $1.086-$1.09 billion range, indicating an increase of 5% year over year.
Box shares have returned 28.4% in the year-to-date period. The Zacks Consensus Estimate for the company’s fiscal 2025 earnings is pegged at $1.65 per share, up 5.1% in the past 30 days.
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