Fly News Breaks for February 3, 2020
Feb 3, 2020 | 06:32 EDT
The Super Bowl provided another data point for the content delivery network space, and for Fastly specifically, Piper Sandler analyst James Fish tells investors in a research note. The Fastly network was running 37% and 32% higher in terms of data usage relative to the 2019 Super Bowl and entering Super Bowl Sunday 2020, respectively, Fish says. With annual pricing declines in the space of 20%-30%, he believes the event gave Fastly a 10%-15% year-over-year boost in revenue. Over-the-top is gaining traffic over cable and Fastly continues to execute well and gain with its largest customers, contends the analyst. Fish maintains an Overweight rating on Fastly shares with a $24 price target.
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