Fastly shares are trading lower. Raymond James maintained a Strong Buy rating on the stock but lowered its Q3 and 2023 revenue estimates.
Portfolio Pulse from Bill Haddad
Raymond James has maintained a Strong Buy rating on Fastly's stock but has lowered its Q3 and 2023 revenue estimates. This has led to a decrease in Fastly's share price.
October 05, 2023 | 7:41 pm
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Fastly's stock price is trading lower due to Raymond James lowering its Q3 and 2023 revenue estimates, despite maintaining a Strong Buy rating.
Raymond James, a major financial services firm, has lowered its revenue estimates for Fastly for Q3 and 2023. This indicates a potential decrease in Fastly's future earnings, which can negatively impact the stock price. Despite maintaining a Strong Buy rating, the lowered revenue estimates have led to a decrease in Fastly's share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100