FSLY
Fastly, Inc.

Fastly, Inc.FSLY

Technology · Software - Application
26.08USD
-4.89%
Sep 23, 2026
FSLY overview ready
Edge-Security Infrastructure Combining WAF, API Security, and DDoS Protection
Fastly is an edge-security infrastructure provider: its programmable edge platform combines content delivery and application performance with next-generation WAF, API security, DDoS protection, bot management, and controls for AI-driven automated traffic.
Strong narrative exposure
Exposed to the Enterprise Cybersecurity Modernization narrative through Identity, Cloud and Application Attack Surface — infrastructure supplier.
Advancing price action
Longer-term context reads mature trend, with a near-term setup of daily advance.
Demanding valuation
The price embeds expectations that run ahead of the cash the business currently produces.
Unremarkable fundamentals
Primary risk
Intense competition from larger cloud and CDN providers.
Market Sep 22Filing Jun 30Price action Sep 22Research Sep 8

Conviction Level

NarrativeHeat8.0ThemeHeat7.4PriceAction8.0Valuation1.6CompanyPosition7.3
Price
Loading price history…

Price Action

Advancing price action
Longer-term context reads mature trend, with a near-term setup of daily advance.
EntryReset + recovery

The stock remains extended from its long-term weekly base, but the recent reset toward the daily SMA100 aligned with support at the weekly EMA21. Daily structure is recovering above the fast averages, improving the current entry location. The advance off that reset has already consumed part of the entry advantage while the weekly trend remains extended, which tempers the assessment.

Key Financials

Market Cap
$4.2B
Avg Volume (60D)
6.1M
60 sessions
Revenue Growth YoY
+14.8%
FY2025 vs FY2024
Gross Margin
+61.5%
Trailing twelve months
Operating Margin
-12.0%
Trailing twelve months
Free Cash Flow Yield
+1.2%
Distance from 200DMA
+34.8%
Next Earnings
2026-11-04
P/E
N/M
EV / Sales
6.0x
Market metrics as of Sep 22, 2026
Financial results for the period ended Jun 30, 2026
Filed balance-sheet data as of Jun 30, 2026

Fundamentals & Valuation

All three valuation perspectives agree this company is expensive.
Fastly, Inc. has an Expensive valuation stance because the price embeds expectations that run ahead of the cash the business currently produces. It trades at 6.0x revenue, which requires sustained delivery to be justified.

What changed

  • FSLY rose 14.9% in one session
    FSLY closed +14.9% against a broad market that moved +1.6%.
    2026-09-21

Company Research

Thesis
Fastly is an edge-security infrastructure provider: its programmable edge platform combines content delivery and application performance with next-generation WAF, API security, DDoS protection, bot management, and controls for AI-driven automated traffic.
Opportunity
Moderate opportunity
Enterprise spending to protect cloud-hosted applications, APIs, automated traffic, and the expanding externally reachable attack surface as digital services and AI-driven interactions become more exposed.
Key risk
Intense competition from larger cloud and CDN providers.

Narrative & Theme

Enterprise Cybersecurity Modernization
Part of Identity, Cloud and Application Attack Surface, with strong fit.
Fastly is a genuine beneficiary of enterprise application-attack-surface modernization rather than merely a generic cloud-adjacent name.
Narrative HeatHeating up8.0 / 10
Theme HeatHeating up7.4 / 10
This is the company’s own research reading. The canonical heat measurement for this story has not run.

Business & Markets

Technology · Software - Application
What they do

Fastly, Inc. operates an edge cloud platform that processes, serves, and secures customer applications by delivering digital experiences at the edge of the internet across multiple global regions.

How it earns

The company generates revenue primarily through subscription-based network services that optimize and accelerate web and application traffic delivery.

Products & services
Content delivery network (CDN)
Dynamic site acceleration
Origin shield
Instant purge
Programmatic control
Content compression
Customers & end markets
Developers
Digital businesses requiring fast and secure application delivery
Market position

Fastly is a challenger in the edge cloud and content delivery network market, competing with larger established players.

Demand drivers
Medium cyclicality

Demand for cloud infrastructure services is influenced by broader IT spending cycles but also driven by ongoing digital transformation trends.