Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Urban Outfitters (URBN) downgraded to Market Perform from Outperform at William Blair analyst Dylan Carden saying near-term investment spending and a "more subdued" comp outlook should continue to delay margin recovery. 2. Nimble Storage (NMBL) downgraded to Equal Weight from Overweight at Morgan Stanley, to Neutral from Positive at Susquehanna, to Sector Weight from Overweight at Pacific Crest, and to Market Perform from Outperform at Wells Fargo. 3. Fortress (FIG) downgraded to Market Perform from Outperform at JMP Securities. 4. BT Group (BT) downgraded to Neutral from Buy at Goldman with analyst Michael Bishop citing valuation following the recent rally in the shares. The analyst lowered his price target for the shares to $22 from $23.90. 5. Randgold (GOLD) downgraded to Underperform from Sector Perform at RBC Capital with analyst Tyler Broda saying he thinks that the company's "current growth phase" has ended, while its outlook has become less visible. Broda also cited valuation and his belief that gold prices will be challenged in the near-term amid interest rate increases as reasons for the downgrade. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.