As previously reported, Craig-Hallum analyst Jeff Van Rhee upgraded Fastly (FSLY) to Buy from Hold with a $10 price target The firm cites the company’s beat and raise, with particularly notable progress on free cash flow now expected to be positive this year for the first time ever. Even after raising, the guide looks conservative relative to the reaccelerating trajectory, Craig-Hallum adds. The firm sees potential for more beats over the next few quarters.
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Read More on FSLY:
- Fastly price target raised to $7.50 from $7 at Piper Sandler
- Fastly upgraded to Buy from Hold at Craig-Hallum
- Fastly’s Strong Performance and Strategic Changes Justify Hold Rating Amid Uncertainties
- Fastly Reports Record Revenue and Positive Cash Flow
- Fastly Announces Executive Changes and Record Revenue