Fastly price target raised to $8 from $6 at Piper Sandler

Piper Sandler analyst James Fish raised the firm’s price target on Fastly (FSLY) to $8 from $6 on better fundamentals, while keeping a Neutral rating on the shares. The firm notes Q3 had solid upside fueled by better media traffic across live-sports, gaming, large-events, and non-Top 10 customers. More importantly, for the first time since Q4 2023, Fastly did not have to cut guide, but rather rolled forward the Q3 upside and left Q4 unchanged, Piper says.