Stocks of cloud service provider Fastly, Inc. (NYSE: FSLY) achieved gains with the launch of a new cybersecurity service this week. Fastly can improve its financial performance by targeting a high-demand niche.
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Fastly, Inc. (FSLY) has released a beta version of Signal Sciences for its cloud platform. The service protects the IT cloud against DDoS attacks and web application attacks. These attacks are becoming more common since they are relatively easy to organize. In addition, the damage they create is also significant. For example, even if a retailer’s website is down for 10 minutes during the holiday shopping season, it can cost millions of dollars.
The Signal Science service of Fastly, Inc. (FSLY) aims to resolve this problem. This will help secure applications and APIs no matter what type of system or platform they are deployed in, whether they are deployed on-premises, in the cloud, or in a hybrid system. By beta testing a tool, the company first wants to eliminate potential technical problems and verify its reliability before making any decisions about the product’s release.
IT vendors, including FSLY, are developing solutions to secure enterprise edge networks. The company has developed its own cloud-based platform to simplify migration into the cloud. The global economy continues to undergo a digital transformation, which has led to high demand for the platform.
On July 29, FSLY traded at $49.11. The company market cap reached $5.97 billion, along with 114.13 million shares outstanding.