Fastly price target raised to $20 from $17 at Craig-Hallum

Craig-Hallum analyst Jeff Van Rhee raised the firm’s price target on Fastly to $20 from $17 and keeps a Buy rating on the shares. The firm highlights the compelling target model coming out of yesterday’s analyst day, with a 2023-2026 revenue CAGR of 19% vs. the Street at a 13% CAGR, and sees margin compression as having troughed in 2022.