Is Fastly Stock a Buy?
After Fastly (NYSE: FSLY) posted its second-quarter numbers on Aug. 4, the edge cloud services provider's stock plummeted to a 52-week low. Its revenue had risen 14% year over year to $85 million, missing estimates by nearly $1 million and decelerating from its 35% growth in the first quarter.
Fastly's net loss also widened from $14 million to $58 million. On a non-GAAP basis, its net loss widened from $2 million to $17 million, or $0.15 per share -- which still beat analysts' expectations by three cents.
Fastly expects its revenue to grow between 15% and 20% year over year in the third quarter, well below Wall Street's expectations for 38% growth. For the full year, it expects its revenue to rise 17% to 20%, compared to the consensus expectations for 31% growth. Let's see why Fastly broadly missed analysts' expectations -- and if its stock is still worth buying as the bulls rush for the exits.
Source Fool.com
