Fastly price target raised to $7.50 from $5.50 at DA Davidson

DA Davidson raised the firm’s price target on Fastly (FSLY) to $7.50 from $5.50 but keeps a Neutral rating on the shares. Revenue strength was driven by better than expected traffic from the company’s top 10 customers and continued strength from the non-top 10 customers, though with that said, further revenue contraction within the top 10 customers is expected in Q4, the analyst tells investors in a research note.