Fastly shares are trading lower after the company reported Q2 financial results and issued FY24 and Q3 guidance below estimates. Also, Piper Sandler downgraded the stock from Overweight to Neutral and lowered its price target from $10 to $6.
Portfolio Pulse from Benzinga Newsdesk
Fastly shares are trading lower after the company reported Q2 financial results and issued FY24 and Q3 guidance below estimates. Additionally, Piper Sandler downgraded the stock from Overweight to Neutral and lowered its price target from $10 to $6.
August 08, 2024 | 11:25 am
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Fastly shares are trading lower due to disappointing Q2 financial results and guidance for FY24 and Q3 that fell below estimates. Piper Sandler downgraded the stock from Overweight to Neutral and reduced its price target from $10 to $6.
The combination of lower-than-expected financial results and guidance, along with a downgrade and reduced price target from a major analyst, is likely to negatively impact Fastly's stock price in the short term.
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IMPORTANCE 90
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