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Why Fastly Shares Are Rising Today

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  • FSLY

Fastly Inc (NYSE: FSLY) is trading higher Thursday after the company announced better-than-expected third-quarter financial results.

Fastly reported a quarterly earnings loss of 11 cents per share, which beat the estimate for a loss of 19 cents per share. The company reported quarterly revenue of $86.73 million, which beat the estimate of $83.71 million and represented an increase of 23% year-over-year.

View more earnings on FSLY

"This quarter, we reported revenues of $87M, up 23% year-over-year and I am pleased to report that our top customers have returned traffic following our outage in Q2. We have navigated unexpected volatility and ever-changing market conditions over the past two years, but are encouraged about the opportunities before us,” said Joshua Bixby, CEO of Fastly.

  • RBC Capital analyst Rishi Jaluria maintained Fastly with a Sector Perform rating and raised the price target from $36 to $50.

Fastly operates a content delivery network, which is necessary for entities to provide faster and more reliable online content.

FSLY Price Action: Fastly has traded as high as $122.75 and as low as $33.87 over a 52-week period.

The stock was up 6.83% at $56.94 at time of publication.

Latest Ratings for FSLY

Nov 2021

RBC Capital

Maintains

Sector Perform

Aug 2021

DA Davidson

Downgrades

Buy

Neutral

Aug 2021

William Blair

Downgrades

Outperform

Market Perform

View More Analyst Ratings for FSLY
View the Latest Analyst Ratings

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