Every investor has felt the itch to buy the one stock everyone else already owns.
Fastly’s chart this year has that kind of pull, a steady climb that turns skeptics into buyers with each new high
One of Wall Street’s largest banks looked at that same chart and decided to stay out. BofA Global Research published its second-quarter preview of the cybersecurity and cloud infrastructure sector on July 31, covering Akamai (AKAM), Cloudflare (NET) and Fastly (FSLY) ahead of their upcoming earnings reports. Analysts Tal Liani and Trevor Dodds gave Akamai and Cloudflare Buy ratings, with price objectives of $175 and $330.
Fastly received the opposite treatment. It got an Underperform rating and a $20 price target, the lowest rating BofA assigns anywhere in its coverage group. That gap matters because Fastly has been one of the best-performing stocks in the market this year.