#4 - Fastly (NYSE:FSLY)
Fastly (NYSE:FSLY) is a content delivery network (CDN) that is part of a group of stocks that are outperforming the market. In the last month, FSLY stock is up nearly 70%. And it’s pretty easy to understand. As more people are sheltered and working, in place, traffic over the world wide web has increased. Working from home means more video chats.
Fastly went public in 2019 and while it’s still not profitable, that could be changing faster than expected. The sudden mitigation efforts are accelerating a trend towards more internet traffic. This is being spurred by several factors including the growth of video content. This will only be enhanced by 5G technology. And so will the number of connected devices.
So what exactly does Fastly do? They provide businesses with an edge cloud platform that lets them deliver, secure and optimize their digital content. Companies are looking for low-cost IT infrastructure with fast access to data. Fastly fits the trend towards growing cloud adoption including the shift to a hybrid cloud as the primary deployment model.
This is creating a sector known as IAAS (Infrastructure-as-a-Service). And that’s a sector that is expected to reach $92 billion by 2023 (up from $19.2 billion in 2016).
Year-to-date Fastly is still down about 11%. But that more than 50% better than the -24% loss for the S&P 500.
About Fastly
Fastly, Inc operates an edge cloud platform for processing, serving, and securing its customer's applications in the United States, the Asia Pacific, Europe, and internationally. 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.
Read More - Current Price
- $9.73
- Consensus Rating
- Hold
- Ratings Breakdown
- 1 Buy Ratings, 8 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $8.85 (9.0% Downside)
