From Financial Modeling Prep: 2024-11-07 09:11:53

In the Q3 2024 earnings report, Fastly Inc. (NYSE:FSLY) exceeded expectations with earnings of $0.02 per share and revenues of $137.21 million, outperforming the Zacks Consensus Estimate. This success led to a positive market response, with Fastly’s stock price rising to $8.16, showcasing a 6.39% increase.

The Internet – Software industry giant Fastly is renowned for its edge cloud platform that enhances website and application speed and security. With a current stock price of $8.16, analysts like James Fish from Piper Sandler have set a price target of $8, projecting a potential 5.77% increase from its current price of $7.56 on November 7, 2024.

Fastly’s financial performance for Q3 2024 has been commendable, with an earnings surprise of 133.33% as it reported $0.02 per share, beating the Zacks Consensus Estimate. The company’s revenue of $137.21 million for the quarter also surpassed expectations by 4.06%, showcasing its consistent ability to outperform both earnings and revenue estimates.



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