A smaller and lesser known company has dethroned Zoom Video Communications (NASDAQ: ZM) as the best performing tech stock during the COVID-19 pandemic.
With a market capitalization of US$8.7 billion, Fastly (NYSE: FSLY) is a mere one-tenth the size of Zoom but it is rapidly gaining investors’ attention as demonstrated by its meteoric share price rise.
The stock market peaked on February 19 (the S&P 500 index closed that day at its all-time high). Over the same period, Zoom is up 152% while Fastly has surged 249%.
Today, we examine Fastly’s business and growth outlook and opine as to whether it remains a good buy despite its recent share price surge.
