FSLY - Is Fastly Stock a Buy After Plummeting Last Week?
2024-02-18 06:31:00 ET
Shares of edge computing company Fastly (NYSE: FSLY) got hammered on Thursday. The stock fell about 30% as the company's fourth revenue and its first-quarter guidance came in below expectations. With shares down so substantially, is now a good time for investors to consider buying this tech stock , or is the company's decelerating top-line growth and management's soft guidance a red flag that should keep investors on the sidelines?
To find out, let's examine a few key takeaways from Fastly's fourth-quarter update, including management expectations for the first quarter and the full year, and then wrap up by taking a look at the stock's valuation.
Fastly reported fourth-quarter revenue growth of 15% year over year. This put total revenue for the period at $137.8 million, slightly below analysts' average forecast for fourth-quarter revenue of $139.5 million. But the top-line figure was just ahead of the low end of management's guidance range for the period. Management had forecast fourth-quarter revenue to be between $137 million and $141 million.
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Is Fastly Stock a Buy After Plummeting Last Week?