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Why Fastly Stock Is Crumbling Today

TheMotleyFool

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Shares of edge computing company Fastly (NYSE: FSLY) are slumping today, down around 5% as of 11:30 a.m. EDT. The decline came despite an analyst price target bump following a recently announced acquisition.

Analysts at Credit Suisse boosted Fastly's price target from $100 to $110 on Monday, a move that was driven by the company's announced acquisition of cybersecurity specialist Signal Sciences. Fastly will pay $775 million for Signal Sciences, comprised of $200 million in cash and $575 million in stock.

Image source: Getty Images.

Source Fool.com

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