FSLY - Fastly Stock Has 43% Upside According to 1 Wall Street Analyst
2024-03-28 08:53:50 ET
Share prices of edge computing company Fastly (NYSE: FSLY) could rise to $18, according to Bank of America analyst Tal Liani. With the stock trading below $13 today, this price target represents an upside of about 43% over the next 12 months or so.
It's important to note that Liani's optimism has faded a bit. The analyst previously had a $28 price target on the stock.
The BofA analyst pointed to the progress that Fastly has made over the past year as the reason for the maintained buy rating and a price target that's well above the current stock price. The company grew revenue by 17% in 2023, improved its gross margin, and reduced its net losses considerably.
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Fastly Stock Has 43% Upside, According to 1 Wall Street Analyst