Here's Why Fastly Stock Slipped Today
Shares of content-delivery network Fastly (NYSE: FSLY) slipped on Tuesday after an analyst downgraded the stock. As of 11:15 a.m. ET today, Fastly was down 7%.
RBC Capital analyst Rishi Jaluria previously believed Fastly stock would be an average performer. But he downgraded this outlook today, saying he believes the stock will underperform the market average, according to The Fly.
Jaluria also gave the stock a price target of just $9. Not only is this down a whopping 49% from his previous price target of $17.50, it also represents potentially 20% more downside from where the stock trades right now. This is a strong pessimistic statement from a prominent analyst, and it's why Fastly stock is down today.
Source Fool.com
