 | Your browser does not display parts of our website correctly. We use the latest technology available to provide you with a high quality experience; please upgrade your browser to its latest version to view the contents properly: |
Fastly, Inc. (FSLY) operates an edge cloud platform for processing, serving, and securing its customer's applications.
The edge cloud is a category of Infrastructure as a Service that enables developers to build, secure, and deliver digital experiences at the edge of the Internet.
It is a programmable platform designed for Web and application delivery.
As of December 31, 2019, the company's edge network spans 68 points-of-presence worldwide. It serves customers operating in digital publishing, media and entertainment, technology, online retail, travel and hospitality, and financial technology services industries.
Fastly, Inc. reported a 2nd Quarter June 2020 loss of $0.08 per share on revenue of $74.7 million. The consensus estimate was a loss of $0.01 per share on revenue of $60.4 million. Revenue grew 61.7% on a year-over-year basis.
The company said in its shareholders letter said it expects a third quarter non-GAAP loss of approximately $0.01 per share on revenue of $73.5 million to $75.5 million. The current consensus estimate is a loss of $0.03 per share on revenue of $71.9 million for the quarter ending September 30, 2020. The company said it expects a 2020 loss of $0.06 to $0.01 per share on revenue of $290.0 million to $300.0 million. The company's previous guidance was loss of $0.15 to $0.08 per share on revenue of $280.0 million to $290.0 million and the current consensus estimate is a loss of $0.13 per share on revenue of $287.2 million for the year ending December 31, 2020.
Following the news that company intends to acquire Signal Sciences for $775M, shares are expected to move higher from their bullish "cup and handle" formation.
Entry Point: $94.25
Trading Range: $10.63 - $117.79
Stop Loss: $89.50
Target Price: $103.65
FSLY closed at $97.00
