Oppenheimer Asset Management called attention to three fundamental calls on Cloudflare (NYSE:NET), Akamai Technologies (NASDAQ:AKAM), and Fastly (NYSE:FSLY), rating NET a Buy and both AKAM and FSLY a Sell.

Cloudflare (NET)

Oppenheimer indicated that Cloudflare (NET) is a Buy as the stock currently trades near $94.72 a share and is higher by 14.1% in 2024.

“We think the stock can be traded higher with a protective stop placed on a close below $85 support (200-day average). A close above $96 resistance (Oct. peak) would indicate the stock’s Q4 reversal is resuming higher, by our analysis.”

Akamai Technologies (AKAM)

Going the other way, Oppenheimer said that shares of Akamai Technologies (AKAM) are a Sell, spotlighting resumed momentum in a downtrend. AKAM trades near $86.95 and is lower on the year by 26.5%.

“AKAM has inflected lower from the bearish slope of its smoothed trend which we see as a resumption of this low momentum stock’s downtrend. We see $80 as next support (May 2023 gap) and $98 as resistance (convergence of Nov. 8th gap and several key moving averages).”

Fastly (FSLY)

The investment institution also issued a Sell rating on shares of Fastly (FSLY), as the cloud computing services provider has been crushed year-to-date, falling 63.3% and now trades at $6.54 a share.

“FSLY has inflected lower from the bearish slope of its smoothed trend which we see as a resumption of this low-momentum stock’s downtrend. We see $5.50 as key support (Sept. low) and $7.00 as resistance (convergence of Nov. 15th gap and 100-day moving average).”