DA Davidson Downgrades Fastly to Neutral, Lowers Price Target to $8.5
Portfolio Pulse from Benzinga Newsdesk
DA Davidson analyst Rudy Kessinger downgraded Fastly (FSLY) from Buy to Neutral and reduced the price target from $24 to $8.5, indicating a bearish outlook on the company's stock.
May 02, 2024 | 12:00 pm
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Fastly's downgrade from Buy to Neutral and a significant reduction in price target from $24 to $8.5 by DA Davidson suggests a bearish outlook.
The downgrade and price target reduction are direct indicators of a negative sentiment towards Fastly's stock by a major financial analyst. This could lead to a decrease in investor confidence and potentially lower stock prices in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100