product · May 16, 2026
Raymond James Upgrades Fastly to Outperform with $23 Price Target
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Raymond James upgraded Fastly to Outperform from Market Perform with a $23 price target on May 15, 2026. The upgrade followed a 38% single-day stock decline after Q1 results. Q1 revenue grew 20% year-over-year to $173.02 million with security revenue up 47% and recurring revenue up 63% to $369 million. Raymond James cited AI-driven traffic inflection as the dominant longer-term theme.
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