Credit Suisse Group initiated coverage on shares of Fastly (NYSE:FSLY – Get Rating) in a report issued on Monday, MarketBeat Ratings reports. The firm issued a neutral rating and a $9.50 price objective on the stock.
Other research analysts have also issued research reports about the stock. DA Davidson dropped their price objective on shares of Fastly to $12.00 in a research note on Tuesday, August 9th. Raymond James dropped their price objective on shares of Fastly from $35.00 to $25.00 and set a strong-buy rating on the stock in a research note on Friday, August 12th. Citigroup dropped their price objective on shares of Fastly from $10.00 to $8.00 and set a sell rating on the stock in a research note on Tuesday, November 8th. Morgan Stanley dropped their price objective on shares of Fastly from $12.00 to $9.00 and set an underweight rating on the stock in a research note on Thursday, October 20th. Finally, Piper Sandler dropped their price target on shares of Fastly from $13.00 to $10.00 in a research note on Thursday, November 3rd. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Fastly currently has an average rating of Hold and an average target price of $12.39.
Fastly Stock Up 2.8 %
Fastly stock opened at $8.59 on Monday. The firm has a market cap of $1.06 billion, a PE ratio of -5.08 and a beta of 1.24. The company has a debt-to-equity ratio of 0.75, a quick ratio of 4.41 and a current ratio of 4.41. The firm’s 50 day moving average price is $8.70 and its two-hundred day moving average price is $10.44. Fastly has a twelve month low of $7.32 and a twelve month high of $44.08.
Insider Buying and Selling
Institutional Trading of Fastly
A number of hedge funds have recently bought and sold shares of the stock. Captrust Financial Advisors boosted its holdings in Fastly by 32.2% in the 1st quarter. Captrust Financial Advisors now owns 3,859 shares of the company’s stock valued at $67,000 after purchasing an additional 941 shares during the period. Penserra Capital Management LLC lifted its holdings in shares of Fastly by 50.0% during the 1st quarter. Penserra Capital Management LLC now owns 3,072 shares of the company’s stock worth $53,000 after acquiring an additional 1,024 shares during the period. Commonwealth Equity Services LLC lifted its holdings in shares of Fastly by 1.9% during the 3rd quarter. Commonwealth Equity Services LLC now owns 63,742 shares of the company’s stock worth $583,000 after acquiring an additional 1,176 shares during the period. Cetera Advisor Networks LLC lifted its holdings in shares of Fastly by 8.6% during the 2nd quarter. Cetera Advisor Networks LLC now owns 15,602 shares of the company’s stock worth $181,000 after acquiring an additional 1,239 shares during the period. Finally, Teacher Retirement System of Texas lifted its holdings in shares of Fastly by 6.1% during the 1st quarter. Teacher Retirement System of Texas now owns 22,708 shares of the company’s stock worth $395,000 after acquiring an additional 1,300 shares during the period. 65.42% of the stock is owned by institutional investors.
Fastly, Inc operates an edge cloud platform for processing, serving, and securing its customer's applications in the United States, the Asia Pacific, Europe, and internationally. The edge cloud is a category of Infrastructure as a Service that enables developers to build, secure, and deliver digital experiences at the edge of the internet.
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