Fastly assumed at Perform on near-term challenges at Oppenheimer

As previously reported, Oppenheimer downgraded Fastly (FSLY) to Perform from Outperform following a transfer in analyst coverage. The company is a provider of high-quality low-latency delivery of applications, and WAF security, and has been expanding into other security offerings and into edge compute. However, the firm sees a few operational hurdles for the company in 2025, including: risk with successful expansion of the Security and Compute/Observability portfolios and its adoption; ability to combat the industry norm of high teens decline in CDN pricing; and S&M pivot to address the newer opportunities. As such, Oppenheimer takes a more cautious view in the near-term until management can deliver on some aforementioned initiatives.