Impact of Morgan Stanley Analyst's Price Target Cut on Fastly Stock

Friday, 3 May 2024, 23:28
The latest price target reduction by Morgan Stanley analyst Sanjit Singh has heightened bearish sentiment towards Fastly stock. Despite the company's positive first-quarter results, weak guidance and continuous bottom-line losses have investors concerned. The significant price target cuts by multiple analysts reflect the impatience of investors seeking improved performance from Fastly.
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Impact of Morgan Stanley Analyst's Price Target Cut on Fastly Stock

Latest Analyst Price Target Cut

Pundits following the company continued to get more bearish on its prospects. Friday saw Morgan Stanley prognosticator Sanjit Singh reduce Fastly's price target by a steep 40% to $12 per share.

Professional Fastly Followers Concerned

  • Bank of America's aggressive downgrade added to bearish sentiment
  • Investors losing patience with continuous bottom-line losses
  • Weak guidance post first-quarter earnings heightened concerns

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

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