FSLY - Fastly: There's Opportunity In This Crash
2024-06-05 11:41:40 ET
Summary
- Fastly's stock price has dropped nearly 60% year to date, with losses picking up steam after the company cut its guidance in Q1.
- From a prior viewpoint of 15-17% y/y growth for the year, the company is now expecting just 10-12% y/y growth.
- Still, despite weaker traffic, the company is citing strong new logo wins. A new Chief Revenue Officer may also help steer the sales force in the right direction.
In an incredibly difficult operating environment for small and mid-cap stocks, Fastly ( FSLY ) has seen a world of hurt. The content delivery network (CDN) platform, once one of the hottest trades on Wall Street during the pandemic when it commanded double-digit revenue valuation multiples, has seen its share price slide nearly 60% year to date. And relative to pandemic-era highs that briefly went above $100 per share, Fastly has wiped off billions in market value over the past few years....
Fastly: There's Opportunity In This Crash