As previously reported, Oppenheimer upgraded Fastly to Outperform from Perform with a $12 price target. Akamai (AKAM) recently received court approval for the purchase of about one-third of Edgio’s customer contracts, or about $100M, and the firm expects Fastly (FSLY) to capture $40M of revenue, the analyst tells investors. Following the shutdown of Edgio, the Content Delivery Network space has consolidated to three players from six previously, removing another price competitor and making CDN a “more attractive market,” the analyst tells investors. Fastly should benefit from Edgio’s bankruptcy at that same time that Internet volumes and pricing are improving, the analyst added.
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Read More on FSLY:
- Fastly upgraded to Outperform from Perform at Oppenheimer
- Unusually active option classes on open November 22nd
- Oppenheimer sees Fastly as biggest beneficiary of shutting down of Edgio
- Fastly price target raised to $8 from $6 at Craig-Hallum
- Fastly price target raised to $7.50 from $5.50 at DA Davidson