Quick Read – Fastly (FSLY) was upgraded to Outperform with a $23 price target by Raymond James after a 38% single-day decline, with Q1 revenue growing 20% year-over-year to $173.02M, Security revenue up 47%, and recurring revenue (RPO) up 63% to $369M. – Piper Sandler…
multaneously maintained a Hold rating on FSLY stock, creating a sharp analyst split on whether the quarter represents an inflection point or a thesis crack. – Shares of Fastly (NYSE:FSLY) just earned a strong endorsement from Raymond James, which upgraded the edge cloud platform to Outperform from Market Perform with a $23 price target. The call lands in the wake of a 38% one-day decline that followed an in-line quarter, making this a clearly contrarian view
Raymond James argues the market overreacted and that an AI-driven traffic inflection is the dominant longer-term theme. The split with peers is the story. Piper Sandler reiterated a Hold on Fastly stock the same week, framing the quarter as a thesis crack rather than a setup.
For broader context on how analysts are positioning around AI infrastructure names, see our recent coverage of AI infrastructure analyst upgrades. The Analyst’s Case Raymond James believes Fastly has reached an “inflection” in operational performance, with rising demand for its network capacity and security products. The firm sees AI-driven traffic increases continuing to benefit delivery networks with more advanced capabilities.