Oppenheimer sees Fastly as biggest beneficiary of shutting down of Edgio

Oppenheimer believes Fastly (FSLY) (FLSY) is the biggest beneficiary of the shutting down of Edgio, as it was its primary competitor along with Akamai (AKAM). Akamai is likely to see court approval of the purchase of a third or so of Edgio’s customer contracts next Monday, and if the firm is correct, there is a good chance Fastly can capture a chunk of its other customers or probably $20M-$60M of incremental revenue run rate. As a result, Oppenheimer raised its 2025 revenue, EBITDA, and total CapEx estimates by +150bps, +360bps, and +120bps, respectively. The industry has now consolidated down to a three-player market with Fastly the premium provider, the firm adds. Oppenheimer has a Perform rating on Fastly.