Oppenheimer upgrades Fastly to Outperform, sees AI agent traffic and GTA VI as catalysts

Oppenheimer upgraded Fastly to Outperform from Perform with a $35 target. Analyst Param Singh highlighted cross-selling of new cybersecurity products, early monetization from rising AI agent traffic, and a nearly $10 million revenue boost from the GTA VI release. Singh expects Fastly to hit the top end of Q3 revenue guidance ($184M-$190M) and raise its fiscal 2026 forecast when it reports on Nov. 4.