Fastly price target raised to $20 from $19 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Fastly to $20 from $19 and keeps an Equal Weight rating on the shares. Q4 revenue grew 15%, which was below consensus looking for 17%, and Q1 guidance also came in below at the midpoint as management wants to remain “prudently conservative given an uncertain macro” backdrop, the analyst tells investors. Positively, customer acquisition performance has improved, adds the analyst, who stays Equal Weight the stock until better growth emerges.