Stock prices skyrocket in TikTok, bright analyst view of edge computing

quickly (FSLY) is an analyst who upgraded its stake, saying it could regain data traffic from its former biggest customer, TikTok, while laying the foundation for winning other businesses in edge computing. Says. Inventory soared on Thursday.


The Trump administration has threatened to ban the TikTok mobile app in the United States due to national security issues, but the issue will probably go away.

Oppenheimer analyst Tim Horan said in a note to the customer, “Positively, the TikTok issue is probably priced and traffic could come back with the new presidential administration. “. He upgraded Fastly shares to better performance than Thursday. “The biggest uncertainty is edge revenue.”

In today’s stock market, stock prices rose 7.6% to 104.96. However, due to this rise, Fastly’s share price is still well below the 117.89 entry point. Rapid inventory can form a new foundation.

Rapid Inventory: Push to Edge Computing

Fastly’s network speeds up e-commerce transactions, business software downloads, and video streaming to mobile devices.Includes customers Shopify (shop).

In addition, the company is driving edge computing and has the potential to increase Fastly’s inventory. Some customers are in the early stages of bringing computer processing and storage closer to where the data is generated.

Horan is a fastly “[email protected]”Services seem to be gaining momentum, but it’s unclear when material revenues will begin.

“Consensus expects FSLY to generate approximately $ 82 million in revenue in the fourth quarter, at the midpoint of guidance,” Horan added. “We are at the high end of guidance and consensus for $ 83.7 million. Channel checks suggest 4Q20 record internet traffic driven by e-commerce and video / game streaming, and security is also growing very strongly. I’m showing you. “

Fastly shares plunged after a plunge in late October due to TikTok’s fate and concerns about other clients.

Follow Reinhardt Krause on Twitter @reinhardtk_tech The latest information on 5G wireless, artificial intelligence, cyber security, and cloud computing.

You may also like

IBD Live: A new tool for daily stock market analysis

Find attractive growth stocks in today’s IBD stocks

View Breakout Stocks and Technical Analysis

Best Growth Stocks to Buy and View: See Update IBD Stock List

Get a free trial of IBD leaderboard

Stock prices skyrocket in TikTok, bright analyst view of edge computing

Source link Stock prices skyrocket in TikTok, bright analyst view of edge computing

Back to top button