Why Fastly Stock Is Crumbling Today
Shares of edge computing company Fastly (NYSE: FSLY) are slumping today, down around 5% as of 11:30 a.m. EDT. The decline came despite an analyst price target bump following a recently announced acquisition.
Analysts at Credit Suisse boosted Fastly's price target from $100 to $110 on Monday, a move that was driven by the company's announced acquisition of cybersecurity specialist Signal Sciences. Fastly will pay $775 million for Signal Sciences, comprised of $200 million in cash and $575 million in stock.
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Source Fool.com