Cloud Stock Plummets From Peak After Earnings

Fastly stock is on track for its worst day in two yearsFastly Inc (NYSE:FSLY) stock is headed for its largest percentage drop since February 2022, down 29.2% to trade at $16.67 at last glance, after the cloud company's disappointing first-quarter forecast and fourth-quarter revenue miss. Craig-Hallum downgraded FSLY to "hold" from "buy," after the earnings event, though no fewer than three other analysts chimed in with small price-target hikes. Considering the 12-month consensus price target of $21.78 is no ...