Investors, however, may want to think twice before they bet on such significant upside from this stock.
Cloudflare's (NYSE: NET) stock price surged 27% on Aug. 5 after the cloud-based services provider posted its second-quarter earnings report. Its revenue rose 54% year over year to $234.5 million, beating analysts' estimates by $7.
Shares of Fastly (NYSE: FSLY), a content delivery network company, were tumbling today after management reported second-quarter results that disappointed investors. Fastly beat analysts' top-line consensus estimate, but earnings fell short of Wall Street's expectations. In a press release, CEO Joshua Bixby said, "We are pleased to continue our revenue momentum into 2022, exceeding the top end of our guidance range and representing another record revenue quarter, further demonstrating Fastly's value with our existing and new customers."