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Why Fastly Stock Slipped on Thursday

TheMotleyFool

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Shares of Fastly (NYSE: FSLY) fell by as much as 5% on Thursday before recovering to close 1.4% lower. This wasn't, thankfully, due to any operational issue like the global outage of its services that rocked many websites Tuesday morning.

Rather, Fastly's decline seemed linked to an analyst downgrade. Oppenheimer prognosticator Timothy Horan cut his recommendation on the content delivery network (CDN) to perform (neutral), from the previous outperform (buy). Horan also withdrew his $85 per share target price on the tech stock.

Source Fool.com

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