Fastly Has 'Magic Of Possibility,' Says Analyst: 'Growth Comes From Non-Top 10 Enterprises'
Portfolio Pulse from Priya Nigam
Fastly Inc (NYSE:FSLY) received an upgrade from Neutral to Overweight by Piper Sandler analyst James Fish, despite mixed Q4 results. The upgrade is based on a favorable competitive landscape, stabilizing OTT metrics, and new packaging driving sustainability in Fastly's CDN business. Growth is notably coming from non-Top 10 enterprises, with opportunities in Fastly's Security business expected to contribute to further growth. Following the upgrade, Fastly's shares rose by 7.30% to $13.44.
April 08, 2024 | 4:13 pm
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Fastly Inc was upgraded by Piper Sandler from Neutral to Overweight, with a price target adjustment from $19 to $16, based on a favorable competitive landscape and growth opportunities, especially from non-Top 10 enterprises.
The upgrade by Piper Sandler reflects a positive outlook on Fastly's business, particularly its CDN and Security segments. The emphasis on growth from non-Top 10 enterprises and the potential in the Security business are likely to be viewed positively by investors, contributing to the stock's short-term upward movement.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100