Freedom Broker initiated coverage on Fastly Inc. (FSLY) with a Buy rating. The firm established a price target of $27.00 per share.
Analysts identified expanding security and compute services as primary growth drivers. The company is also scaling its core content delivery network business. A strategic shift toward higher-margin software subscriptions is expected to boost average revenue per user and sustain free cash flow.
Institutional interest includes Sigma Planning Corp, which acquired 65,057 shares in the first quarter. Canaccord Genuity Group also recently initiated coverage with a Buy rating and a $27.00 price target.
Broader market sentiment remains mixed with a consensus Hold rating. The average analyst price target for Fastly currently sits at $22.62.