Connect with us

Hi, what are you looking for?


Why is this cloud stock up 25% on Monday?

Shares of Fastly Inc (NYSE: FSLY) are up more than 25% today after a Bank of America analyst turned super bullish on the cloud computing services provider.

It’s still not too late to buy Fastly stock

On Monday, Tal Liani double upgraded the cloud stock to “buy” and raised his price objective to $16 a share – up another 30% from here.

The analyst is bullish primarily on the leadership of Todd Nightingale who the California-based company named its Chief Executive in August of 2022.

Fastly’s new CEO has taken steps to streamline product portfolio, pricing, and other operational aspects, and we believe this could drive revenue growth reacceleration with the company reaching profitability by 2024.

The near-term, though, could remain volatile, he agreed. Year-to-date, Fastly stock is now up more than 50%.

Fastly is committed to improving margins

Fastly Inc is scheduled to report its Q4 earnings later this week. Consensus is for it to lose 42 cents a share this quarter, narrower than 44 cents a year ago.

Other reasons cited for the constructive view on Fastly stock include the company’s commitment to lowering costs and thereby improving operating margins. Liani’s research note reads:

Fastly’s core technology/network is differentiated yet needs to be sharpened; the technology could serve as a solid foundation for other adjacent services; we also highlight close relationships it has with developer community.

He likes Fastly Inc for its increased focus on security and edge cloud solutions as well. Last week, the company was named a 2023 Gartner® Peer Insights™ Customers’ Choice for Cloud Web Application and API Protection (WAAP).

The post Why is this cloud stock up 25% on Monday? appeared first on Invezz.

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like


    Reprinted from the Future of Freedom Foundation President Biden’s campaign to banish (or maybe outlaw) political paranoia took a wallop last spring. In April,...


    Inflation appears to be on the decline. The Personal Consumption Expenditures Price Index (PCEPI), which is the Federal Reserve’s preferred measure of inflation, grew...

    Editor's Pick

    It’s already a cliché, but technology is rapidly improving. And for many businesses, it’s hard to catch up. However, it’s not just the average...

    Editor's Pick

    At Broadband World Forum 2022, Fibocom launched 5G module FG370 based on MediaTek T830 platform, aiming to empower the deployment of 5G FWA for...

    Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2022 All Rights Reserved.