Shares of Fastly, Inc. (FSLY) are skyrocketing in pre-market trading, surging by 28.13% following the company's release of impressive third-quarter results and an optimistic full-year guidance. The edge cloud platform provider has demonstrated strong performance, significantly exceeding analyst expectations and boosting investor confidence.

Fastly reported a third-quarter adjusted earnings per share (EPS) of $0.08, substantially outperforming the analyst estimate of $0. The company's revenue for the quarter came in at $158.223 million, surpassing the forecast of $150.8 million. Additionally, Fastly achieved a gross margin of 58.4%, indicating improved operational efficiency. The company also reported a 30% year-over-year growth in security revenue and an increase in enterprise customer count to 627, up by 51 from the previous year.

Looking ahead, Fastly provided an upbeat outlook for the full fiscal year 2025. The company now expects full-year revenue to be in the range of $610-614 million, surpassing the consensus estimate of $598.12 million. Furthermore, Fastly projected an adjusted EPS between $0.03 and $0.07 for the fiscal year, compared to the previous consensus expectation of -$0.07. These factors have likely contributed to the stock's substantial pre-market rally, as investors react positively to the company's growth trajectory and improved financial performance. The market's enthusiastic response is also reflected in several analysts raising their price targets for Fastly, with RBC increasing its target to $9 from $7, and Piper Sandler raising its target to $10 from $7.50.