FSLY - Fastly: It's A Great Time To Buy In Amid Lower Expectations
2024-04-08 10:53:24 ET
Summary
- Fastly has dropped sharply this year on lower traffic trends, particularly overseas.
- Still, the company has signed on a large number of new clients in its most recent quarter, planting the seeds for a re-acceleration in growth rates.
- Fastly's strong net retention rates and usage-based billings model contribute to meaningful revenue expansion.
- The next catalyst for Fastly is its Q1 earnings release, due in early May. It's a good time to buy the dip before then.
If you're like me, you're nervous about the S&P 500 hovering consistently near all-time highs. In my view, the best way to counteract stock market highs is to find contrarian plays that will have a low correlation to the broader markets: and in particular, "growth at a reasonable price" tech stocks that have fallen out of favor and out of the limelight make for great rebound plays....
Fastly: It's A Great Time To Buy In Amid Lower Expectations