FSLY - Why Fastly Stock Is Dropping Today | Benzinga
Fastly, Inc. (NYSE:FSLY) shares are dropping Thursday after the company reported mixed fourth-quarter financial results and issued guidance Wednesday after the bell.
The Details:
Fastly reported quarterly earnings of 1 cent per share, which beat the analyst consensus estimate of a 2 cent loss. It is an increase over losses of 8 cents per share from the same period last year.
The company reported quarterly sales of $137.78 million, missing the analyst consensus estimate of $139.46 million by 1.21% and representing a 15.47% increase over sales of $119.32 million year-over-year.
Craig-Hallum analyst Jeff Van Rhee downgraded Fastly from Buy to Hold and announced a $20 price target on Thursday.
Fastly shares are dropping on heavy trading volume as ...