Fastly Results ‘Beat All Around.’ The Stock Soars After Receiving Upgrades.

Fastly


was surging Thursday as analysts upgraded the cloud computing company’s stock to Buy following solid quarterly results and a promising sales outlook.

D.A. Davidson analyst Rudy Kessinger upgraded shares of


Fastly


(ticker: FSLY) to Buy from Neutral and raised his 12-month price target on the stock to $17 from $8.50. Kessinger wrote in a research note that fourth-quarter results “beat all around” and cited gross margins exceeding expectations for the second quarter in a row as reasons for his upgrade.