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Why Fastly Plunged 32.7% in February

TheMotleyFool

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Shares of Fastly (NYSE: FSLY) plunged 32.7% in February, according to data provided by S&P Global Market Intelligence. The edge cloud-computing company's shares are down around 14.6% year to date after hitting a year high of $117.

Fastly released its fourth-quarter and full 2020 fiscal-year earnings report during the month, and the numbers were strong. Revenue grew 45% year over year to $291 million, while gross margin saw an improvement from 55.9% in 2019 to 58.7%. Dollar-based net expansion rate remained strong at 143%, while total customer count inched up from 2,047 in the previous quarter to 2,084.

Image source: Getty Images.

Source Fool.com

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