Fastly Inc (NYSE: FSLY) is surging on a speculative rumor that it could be a takeover target by Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL).
A company like Google could acquire Fastly to improve its content delivery network, the Deal.com reported.
Fastly operated a content delivery network to help entities provide faster and more reliable online content.
Fastly reported Q4 FY21 quarterly EPS loss $(0.10), which beat the consensus loss of $(0.16). Fastly reported quarterly sales of $97.72 million, up 18% Y/Y, which beat the consensus of $92.48 million.
Fastly saw Q1 FY22 sales of $92-$100 million versus the consensus of $98 million. Fastly is also guiding for FY22 sales of $400-$410 million, versus the consensus of $419 million.
Raymond James upgraded the rating on Fastly, noting shares overreacted to management's recently issued 2022 revenue guidance.
Price Action: FSLY shares traded higher by 3.86% at $18.42 on the last check Friday.
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