Is Fastly Stock a Buy?
Fastly's (NYSE: FSLY) stock price rose slightly on Thursday after the cloud computing services provider posted its third-quarter earnings report. Fastly's revenue rose 23% year over year to $87 million, which beat estimates by $3.3 million. Its adjusted net loss widened from $4.5 million to $13.2 million, or $0.11 per share, but still beat expectations by seven cents.
Analysts' expectations for Fastly were fairly low since its growth had already decelerated significantly in the second quarter following a temporary service outage in June. That's why its stock price is still down nearly 40% for the year.
Does Fastly's recent earnings beat indicate its troubles are finally over? Or does the company still face too many near-term challenges?
Source Fool.com
