Fastly, Inc.: The Edge Cloud Inflection Nobody Is Pricing Correctly

Fastly (FSLY) is rated a buy, with a fair value estimate of $30 versus a current price of $20.50, driven by accelerating growth and robust fundamentals. FSLY posted Q1 2026 revenue of $173M (+20% YoY), security revenue up 47% YoY, net retention rate at 113%, and RPO up 63% YoY to $369M. Management raised 2026 revenue guidance to $710–$725M and EPS guidance by 15%, signaling fundamental earnings model reset and durable growth trajectory.