Fastly, Inc. (NYSE:FSLY) Receives $8.55 Consensus PT from Analysts

Shares of Fastly, Inc. (NYSE:FSLY) have been assigned an average recommendation of “Hold” from the ten ratings firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $8.55.

FSLY has been the subject of a number of research analyst reports. Oppenheimer raised shares of Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 target price for the company in a research report on Monday, December 2nd. Robert W. Baird lifted their price objective on Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Craig Hallum increased their target price on Fastly from $6.00 to $8.00 and gave the company a “hold” rating in a report on Thursday, November 7th. Raymond James downgraded Fastly from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 1st. Finally, Royal Bank of Canada upped their price target on shares of Fastly from $6.00 to $7.00 and gave the company a “sector perform” rating in a research report on Thursday, November 7th.

Insider Buying and Selling

In related news, CFO Ronald W. Kisling sold 7,449 shares of Fastly stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $7.24, for a total transaction of $53,930.76. Following the sale, the chief financial officer now owns 558,564 shares of the company’s stock, valued at approximately $4,044,003.36. This trade represents a 1.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Artur Bergman sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $10.09, for a total value of $100,900.00. Following the completion of the transaction, the chief technology officer now directly owns 3,434,136 shares in the company, valued at approximately $34,650,432.24. This represents a 0.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 228,641 shares of company stock valued at $1,841,418. 6.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Fastly

Several institutional investors and hedge funds have recently modified their holdings of FSLY. Point72 DIFC Ltd bought a new position in shares of Fastly during the second quarter worth $38,000. FMR LLC boosted its holdings in shares of Fastly by 124.2% during the 3rd quarter. FMR LLC now owns 6,357 shares of the company’s stock valued at $48,000 after purchasing an additional 3,522 shares during the last quarter. Daiwa Securities Group Inc. grew its position in shares of Fastly by 95.3% during the second quarter. Daiwa Securities Group Inc. now owns 8,849 shares of the company’s stock valued at $65,000 after purchasing an additional 4,318 shares in the last quarter. Aigen Investment Management LP bought a new stake in shares of Fastly in the third quarter worth about $89,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in shares of Fastly in the second quarter worth about $103,000. Institutional investors own 79.71% of the company’s stock.

Fastly Stock Performance

Fastly stock opened at $9.44 on Thursday. Fastly has a one year low of $5.52 and a one year high of $25.87. The business’s fifty day moving average is $8.69 and its 200 day moving average is $7.61. The stock has a market capitalization of $1.32 billion, a PE ratio of -8.66 and a beta of 1.27. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.97 and a quick ratio of 3.97.

Fastly (NYSE:FSLY) last posted its earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.08. Fastly had a negative net margin of 27.47% and a negative return on equity of 13.24%. The business had revenue of $137.21 million for the quarter, compared to analysts’ expectations of $131.86 million. During the same quarter in the prior year, the business earned ($0.33) EPS. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, sell-side analysts predict that Fastly will post -0.86 EPS for the current year.

About Fastly

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.