DA Davidson analyst Rudy Kessinger reiterated a Neutral rating and $23.00 price target on Fastly Inc. (NASDAQ: FSLY).

The analyst commented, "Will Muse & other AI Agents drive incremental traffic to FSLY? Sure, but so would one additional visitor to the NYT homepage per day. The right question to be asking is will Muse & other AI Agents drive enough incremental traffic to FSLY to move the needle on revenue growth, and if so when? We believe the answer to that is almost certainly no, at least near-term. To be clear, we do believe FSLY will continue to benefit from increased demand for newer security products such as Bot Management, but the idea Muse will be a significant near-term catalyst is not based in the reality of how FSLY makes money, which is on bytes in CDN (73% of Q2 Rev)."

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Shares of Fastly Inc. closed at $29.65 yesterday.