Fastly price target raised to $7 from $6 at Piper Sandler

Piper Sandler raised the firm’s price target on Fastly (FSLY) to $7 from $6 and keeps a Neutral rating on the shares. The firm notes shares are pointed higher after Fastly reported a fairly clean quarter. It was the largest beat for Fastly in over 2 years, as Fastly is clearly benefiting from the prior Edgio installed base moving bytes over and that the pricing dynamics have improved with less competitors in the space.