On August 6, Fastly, Inc. fell 10.47% in regular trading, trading at approximately $24.00 per share, with turnover of $32.94 million.

The decline comes despite a strong Q2 earnings report released the prior day after market close. Fastly reported adjusted EPS of $0.15, more than doubling the consensus estimate of $0.07 and swinging to profit from a loss of $0.03 per share year-over-year. Revenue came in at $183.3 million, surpassing the $173.9 million estimate. However, the stock exhibited a classic buy-the-rumor, sell-the-news pattern, having already rallied over 8% on August 5 ahead of the report. Concentrated profit-taking emerged once results were confirmed.

RBC Capital raised its price target on Fastly from $18 to $25 while maintaining a Sector Perform rating, but the upgrade failed to offset short-term selling pressure. The broader AI software sector also saw mixed post-earnings reactions, with several names including Datadog and AppLovin posting significant declines.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)