Fastly, Inc. (FSLY) saw its stock soar 5.12% on Friday during the intraday trading session, driven primarily by technical factors and analysts' positive outlook on the company's earnings prospects.
The surge in FSLY's stock came as the company's shares surpassed resistance at the 50-day moving average, a key technical indicator suggesting a potential short-term bullish trend. The stock has rallied 5.1% over the past four weeks, further strengthening the bullish case.
Additionally, Fastly currently holds a Zacks Rank of #2 (Buy), indicating that analysts are optimistic about the company's future earnings potential. The consensus earnings estimate for the current fiscal year has been revised upward, with 7 positive revisions and no downward revisions, bolstering confidence in the stock's performance.
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