Credit Suisse Raises Fastly’s PT After Signal Acquisition
Credit Suisse raised Fastly’s price target to $110 (16.2% upside potential) from $100, following the company’s announcement earlier this month that it will acquire Signal Sciences.
FSLY), the content delivery network specialist agreed to buy cybersecurity company Signal Sciences for $775 million in a cash and stock transaction. Fastly said the purchase will expand its robust security offerings and bring a unified edge security solution to its customers.” data-reactid=”13″>On Aug. 17, Fastly (FSLY), the content delivery network specialist agreed to buy cybersecurity company Signal Sciences for $775 million in a cash and stock transaction. Fastly said the purchase will expand its robust security offerings and bring a unified edge security solution to its customers.
See FSLY stock analysis on TipRanks).” data-reactid=”14″>Fastly CEO Joshua Bixby said that “Together with Signal Sciences, we will give developers modern security tools designed for the way they work. This new solution will integrate with our Compute@Edge platform, accelerating the adoption of edge computing, while simultaneously solving for modern security challenges.” (See FSLY stock analysis on TipRanks).
Brad Zelnick believes that the deal bolsters Fastly’s position in edge security, specifically in the context of DevSecOps, and that differentiates it from prior technology. Zelnick maintains a Buy rating on the stock.” data-reactid=”19″>Credit Suisse analyst Brad Zelnick believes that the deal bolsters Fastly’s position in edge security, specifically in the context of DevSecOps, and that differentiates it from prior technology. Zelnick maintains a Buy rating on the stock.
price target of $92.4 implies downside potential of 2.4% to current levels.” data-reactid=”20″>Currently, the Street has a cautiously optimistic outlook on the stock. The Moderate Buy analyst consensus is based on 7 Buys, 3 Holds, and 2 Sells. Given the year-to-date share price rally of 371.7%, the average price target of $92.4 implies downside potential of 2.4% to current levels.
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