Fastly's (FSLY) 2029 targets reinforce its shift from a CDN-focused business toward a broader multi-product edge-cloud platform, with the strategy offering growth and margin expansion opportunities but requiring sustained execution, RBC Capital said.

The investment firm said in a Tuesday note that management targets revenue between $1.1 billion and $1.3 billion in 2029.

Fastly is shifting from a content delivery network model toward an integrated edge-cloud platform. RBC said the company plans to report a single consolidated revenue line starting in 2027.

The analyst added that AI is a platform-wide tailwind. AI traffic is growing 6.5 times faster than human traffic. New offerings target AI agent management and model costs, though monetization remains at an early stage.

RBC maintained its sector perform rating on the stock with a price target of $25.

Fastly shares were down 5.4% in Wednesday trading.

Price: 24.68, Change: -1.41, Percent Change: -5.39