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Analyst downgrades Fastly Inc from Buy to Underperform and lowers price target, citing near-term risks and decelerating growth in largest customers.
B of A Securities analyst Tal Liani downgraded Fastly Inc (NYSE:FSLY) from Buy to Underperform and lowered the price target from $18 to $8. On Wednesday, Fastly reported quarterly sales of $133.52 million, up by 13.6% year-on-year, which marginally beat the analyst consensus estimate of $133.1 million. EPS loss of $(0.05) beat the analyst consensus estimate loss of $(0.06). The stock price plunged on Thursday. Near-term risks outweigh the longer-term positive catalysts, as per Liani. Deceleratin