Stock Track | Fastly Soars 5.05% in Pre-market on Strong Q4 Earnings and AI Traffic Boost

Stock Track
Yesterday

Fastly, Inc. (FSLY) shares soared 5.05% during pre-market trading on Friday, extending gains from the previous session.

The surge follows the company's blowout fourth-quarter earnings report, which showed adjusted earnings of 12 cents per share, doubling analyst expectations of 6 cents. Revenue jumped 23% year-over-year to $172.6 million, also surpassing forecasts. Analysts highlighted that Fastly is benefiting from increased traffic generated by artificial intelligence, particularly from large-language models like ChatGPT, which scour the internet and boost demand for the company's content delivery network.

William Blair analyst Jonathan Ho upgraded the stock to Outperform, calling it an "underappreciated play" on AI growth, while D.A. Davidson's Rudy Kessinger raised his price target. The company also issued strong guidance for the current quarter, expecting continued revenue growth and profitability.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10