Fastly CEO's Strategic Changes Yielding Green Shoots: Analysts See Challenges Ahead Despite Growth Drivers
Portfolio Pulse from Anusuya Lahiri
Fastly Inc (FSLY) received mixed reviews from analysts after its Analyst Day in New York. Credit Suisse raised its price target from $14 to $16, while RBC Capital raised its target from $9 to $11. Oppenheimer maintained a Perform rating, and Raymond James reiterated a Strong Buy rating with a $25 price target. KeyBanc maintained a Sector Weight rating. Analysts acknowledged the company's strategic changes but expressed concerns about competition and growth.
June 23, 2023 | 6:28 pm
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Fastly received mixed reviews from analysts after its Analyst Day, with some raising price targets and others maintaining ratings. The company's strategic changes were acknowledged, but concerns about competition and growth persist.
The mixed reviews from analysts indicate that Fastly's strategic changes are being acknowledged, but concerns about competition and growth persist. This uncertainty may lead to a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100