FSLY - This Cloud Software Stock Has Nearly Doubled in 2023 -- Is It Too Late to Buy?
2023-10-17 06:13:00 ET
Beaten down cloud software stock Fastly (NYSE: FSLY) has actually notched an impressive rebound in 2023, up some 80% so far this year. It remains down nearly 90% from all-time highs in late 2020 and early 2021, though.
Key to this performance has been a business that remains in growth mode. Despite numerous setbacks and big changes in management since the 2019 initial public offering (IPO), there's still some hope for this software investment. But is it too late to buy after this year's rally?
Fastly operates a type of "next-gen" content delivery network (CDN), data centers located in strategic locations around the world that deliver internet content to end users. In addition to these CDN services, Fastly provides security, cloud observability, and compute at the "network edge" (within a small data center close to the end user).
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This Cloud Software Stock Has Nearly Doubled in 2023 -- Is It Too Late to Buy?