Fastly, Inc. (NYSE:FSLY) Given Average Recommendation of “Hold” by Analysts

Fastly, Inc. (NYSE:FSLY) has been given an average rating of “Hold” by the ten analysts that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $8.85.

Several brokerages have recently weighed in on FSLY. Citigroup upped their target price on Fastly from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Raymond James downgraded shares of Fastly from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 1st. Piper Sandler boosted their target price on shares of Fastly from $8.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Oppenheimer raised shares of Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price target for the company in a report on Monday, December 2nd. Finally, Robert W. Baird boosted their price objective on shares of Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th.

Fastly Trading Down 1.8 %

Shares of FSLY stock opened at $10.26 on Monday. The company has a quick ratio of 3.97, a current ratio of 3.97 and a debt-to-equity ratio of 0.36. Fastly has a fifty-two week low of $5.52 and a fifty-two week high of $25.87. The firm’s 50 day moving average price is $9.43 and its two-hundred day moving average price is $7.88. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of -9.41 and a beta of 1.24.

Fastly (NYSE:FSLY) last posted its earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share 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 analyst estimates of $131.86 million. During the same quarter in the previous year, the business posted ($0.33) EPS. The business’s quarterly revenue was up 7.3% on a year-over-year basis. On average, analysts anticipate that Fastly will post -0.86 EPS for the current year.

Insider Transactions at Fastly

In other Fastly news, CFO Ronald W. Kisling sold 16,102 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $6.25, for a total transaction of $100,637.50. Following the sale, the chief financial officer now directly owns 542,462 shares of the company’s stock, valued at approximately $3,390,387.50. This represents a 2.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Artur Bergman sold 49,178 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $8.07, for a total transaction of $396,866.46. Following the completion of the transaction, the chief technology officer now owns 6,155,822 shares in the company, valued at approximately $49,677,483.54. The trade was a 0.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 247,779 shares of company stock valued at $2,050,359. Insiders own 6.70% of the company’s stock.

Institutional Investors Weigh In On Fastly

Several institutional investors and hedge funds have recently bought and sold shares of FSLY. 180 Wealth Advisors LLC raised its position in shares of Fastly by 2.5% during the 4th quarter. 180 Wealth Advisors LLC now owns 68,643 shares of the company’s stock worth $648,000 after purchasing an additional 1,695 shares during the period. The Manufacturers Life Insurance Company grew its stake in Fastly by 3.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 68,301 shares of the company’s stock worth $503,000 after buying an additional 2,128 shares during the last quarter. Blue Trust Inc. increased its position in Fastly by 15.2% in the third quarter. Blue Trust Inc. now owns 17,420 shares of the company’s stock worth $128,000 after buying an additional 2,296 shares during the period. FMR LLC lifted its stake in Fastly by 124.2% in the third quarter. FMR LLC now owns 6,357 shares of the company’s stock valued at $48,000 after buying an additional 3,522 shares during the last quarter. Finally, Wealth Effects LLC boosted its holdings in shares of Fastly by 21.1% during the fourth quarter. Wealth Effects LLC now owns 28,651 shares of the company’s stock valued at $270,000 after acquiring an additional 5,000 shares during the period. Institutional investors and hedge funds own 79.71% of the company’s stock.

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.