Fastly price target raised to $20 from $17 at DA Davidson

DA Davidson raised the firm’s price target on Fastly to $20 from $17 and keeps a Buy rating on the shares. The company’s Investor Day presentation laid out new near and long- term targets that were “nicely ahead” of consensus estimates, and its management shared incremental details on how they have been able to turn gross margins around over the last several quarters and how they plan to expand them another 8% by 2026, the analyst tells investors in a research note.