Shares of content delivery network (CDN) Fastly (NYSE: FSLY) fell on Monday morning after receiving an analyst downgrade. It didn't help that the market was down sharply as well, providing further downward pressure. As of 11:20 a.m. ET, Fastly stock was down 14%.
According to The Fly, Morgan Stanley analyst Sanjit Singh recommends selling Fastly stock and has lowered its price target for the stock from $18 per share to $12 per share.
According to TipRanks, Singh began covering Fastly stock at the beginning of the year. When they initiated coverage in January, they gave it a price target of $43 per share, according to The Fly. But as Fastly stock has fallen, so too have the price targets.
Source Fool.com