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

Shares of Fastly, Inc. (NYSE:FSLY) have received an average recommendation of “Reduce” from the ten brokerages that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and nine have given a hold recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $8.25.

FSLY has been the subject of several recent analyst reports. Piper Sandler reduced their target price on Fastly from $9.00 to $6.00 and set a “neutral” rating for the company in a report on Tuesday. Oppenheimer started coverage on Fastly in a research report on Thursday, March 20th. They set a “market perform” rating for the company. Citigroup boosted their price target on shares of Fastly from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. Finally, Royal Bank of Canada decreased their price objective on shares of Fastly from $10.00 to $8.00 and set a “sector perform” rating for the company in a report on Thursday, February 13th.

Insider Activity at Fastly

In other news, CFO Ronald W. Kisling sold 6,038 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $9.45, for a total transaction of $57,059.10. Following the completion of the sale, the chief financial officer now directly owns 519,812 shares in the company, valued at approximately $4,912,223.40. This represents a 1.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Todd Nightingale sold 35,509 shares of Fastly stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $8.04, for a total value of $285,492.36. Following the completion of the sale, the chief executive officer now owns 1,553,301 shares in the company, valued at approximately $12,488,540.04. This represents a 2.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 155,150 shares of company stock worth $1,356,178. 6.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Fastly

A number of institutional investors have recently added to or reduced their stakes in the company. Quadrature Capital Ltd raised its position in shares of Fastly by 84.2% in the 3rd quarter. Quadrature Capital Ltd now owns 112,085 shares of the company’s stock worth $848,000 after purchasing an additional 51,224 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Fastly in the third quarter worth $400,000. Zacks Investment Management purchased a new stake in shares of Fastly during the 3rd quarter valued at about $914,000. Jacobs Levy Equity Management Inc. purchased a new stake in Fastly during the third quarter valued at approximately $679,000. Finally, Swiss National Bank raised its holdings in Fastly by 2.2% in the 4th quarter. Swiss National Bank now owns 259,000 shares of the company’s stock worth $2,445,000 after purchasing an additional 5,500 shares during the period. Institutional investors own 79.71% of the company’s stock.

Fastly Stock Up 15.7 %

Shares of NYSE:FSLY opened at $5.78 on Friday. The business’s 50 day moving average is $7.30 and its 200 day moving average is $8.16. Fastly has a 12-month low of $4.65 and a 12-month high of $14.12. The stock has a market cap of $823.06 million, a price-to-earnings ratio of -5.07 and a beta of 1.43. 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 (NYSE:FSLY) last posted its earnings results on Wednesday, February 12th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.22). Fastly had a negative return on equity of 12.75% and a negative net margin of 29.07%. On average, sell-side analysts forecast that Fastly will post -0.78 earnings per share for the current fiscal year.

Fastly Company Profile

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.