Stock Track | Fastly Soars 5.08% in Pre-market Trading Following Raymond James Upgrade to Outperform

Stock Track05-08

Fastly, Inc. (FSLY) saw its stock price surge 5.08% during pre-market trading on Friday. The significant upward movement comes after a sharp decline in the previous trading session, indicating a potential rebound driven by positive analyst sentiment.

The pre-market surge appears to be directly linked to an analyst upgrade from Raymond James. The firm raised its rating on Fastly from Market Perform to Outperform, setting a price target of $23 for the stock. This upgrade suggests renewed confidence in the company's prospects despite recent concerns over growth guidance.

According to FactSet data, Fastly currently holds an average rating of overweight with a mean price target of $25.20 among analysts. The Raymond James upgrade represents a notable shift in sentiment that may be contributing to the stock's recovery in pre-market trading following Thursday's substantial decline.

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