Why Fastly Stock Was Climbing Today

·2-min read
Why Fastly Stock Was Climbing Today

DA Davidson analyst Rishi Jaluria lowered his price target on the stock from $105 to $60, but maintained a buy rating on it. While that was hardly a ringing endorsement for Fastly, it seemed to be enough to push the stock higher along with the broader shift in market sentiment. Given that, traders may have overreacted last week when they sent Fastly's shares down by 27% on the heels of the report.