Why Did Oppenheimer Downgrade Fastlys Stock?
Fastly (FSLY) received a Hold rating from Oppenheimer analyst Timothy Horan today. The companys shares closed last Wednesday at $54.69, close to its 52-week low of $39.47. According to TipRanks.com, Horan is a 5-star analyst with an average return of 17.5% and a 70.8% success rate. Horan covers the Technology sector, focusing on stocks such as Rackspace Technology, Lumen Technologies, and Digital Turbine. The word on The Street in general, suggests a Hold analyst consensus rating for Fastly with a $57.67 average price target, implying a -2.2% downside from current levels. In a report issued on June 8, Piper Sandler also maintained a Hold rating on the stock with a $45.00 price target. See todays analyst top recommended stocks >>  Based on Fastlys latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $84.85 million and GAAP net loss of $50.68 million. In comparison, last year the company earned revenue of $62.92 million and had a GAAP net loss of $11.99 million. Based on the recent corporate insider activity of 105 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FSLY in relation to earlier this year. TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities. Fastly, Inc. provides real-time content delivery network services. It offers edge cloud platform, edge software development kit (SDK), content delivery and image optimization, video and streaming, cloud security, load balancing, and managed CDN. The company was founded by Artur Bergman, Simon Wistow, and Gil Penchina in March 2011 and is headquartered in San Francisco, CA. Read More on FSLY: