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Investing.com — Fastly (NYSE:FSLY) fell more than 5% after Raymond James downgraded the stock.
The company’s in-house traffic data suggests “flattish YTD trends in terms of requests-per-second, an important KPI in Fastly’s usage-based model,” analyst Robert Majek wrote in a note, according to Seeking Alpha. Majek dropped shares to market perform from outperform.
The analyst expects the cloud computing services provider will likely provide a conservative guidance for the second quarter, though it may meet expectations for the first quarter.
From March to September 2020, shares rose to a record, up more than 400%. They have since dropped by half.
Fastly is expected to report earnings on May 5, with an expected loss of almost 11 cents on sales of $85 million.
