Recent Research Analysts’ Ratings Changes for Fastly (FSLY)

A number of firms have modified their ratings and price targets on shares of Fastly (NYSE: FSLY) recently:

• 11/7/2024 – Fastly had its price target raised by analysts at Royal Bank of Canada from $6.00 to $7.00. They now have a “sector perform” rating on the stock.
• 11/7/2024 – Fastly had its price target raised by analysts at DA Davidson from $5.50 to $7.50. They now have a “neutral” rating on the stock.
• 11/7/2024 – Fastly had its price target raised by analysts at Robert W. Baird from $7.00 to $8.00. They now have a “neutral” rating on the stock.
• 11/7/2024 – Fastly had its price target raised by analysts at Piper Sandler from $6.00 to $8.00. They now have a “neutral” rating on the stock.
• 11/7/2024 – Fastly had its price target raised by analysts at Craig Hallum from $6.00 to $8.00. They now have a “hold” rating on the stock.
• 10/1/2024 – Fastly was downgraded by analysts at Raymond James from a “strong-buy” rating to a “market perform” rating.

Fastly Stock Up 4.3 %

FSLY traded up $0.34 during trading on Monday, hitting $8.23. 1,220,703 shares of the company’s stock traded hands, compared to its average volume of 3,528,967. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of -7.55 and a beta of 1.24. The company’s 50 day simple moving average is $7.29 and its two-hundred day simple moving average is $7.28. Fastly, Inc. has a 12-month low of $5.52 and a 12-month high of $25.87. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.36.

Fastly (NYSE:FSLY) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $137.21 million for the quarter, compared to the consensus estimate of $131.86 million. During the same quarter last year, the firm posted ($0.33) EPS. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. Analysts predict that Fastly, Inc. will post -0.87 earnings per share for the current fiscal year.

Insider Buying and Selling at Fastly

In related news, CEO Todd Nightingale sold 49,816 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $6.25, for a total value of $311,350.00. Following the transaction, the chief executive officer now directly owns 1,600,973 shares of the company’s stock, valued at approximately $10,006,081.25. This trade represents a 3.02 % 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, CFO Ronald W. Kisling sold 7,449 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $7.24, for a total value of $53,930.76. Following the completion of the sale, the chief financial officer now owns 558,564 shares of the company’s stock, valued at approximately $4,044,003.36. The trade was a 1.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 160,548 shares of company stock worth $1,094,142 in the last three months. 6.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Fastly

A number of hedge funds have recently made changes to their positions in the business. CWM LLC grew its stake in Fastly by 10.5% during the second quarter. CWM LLC now owns 22,266 shares of the company’s stock valued at $164,000 after acquiring an additional 2,121 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Fastly by 3.2% during the second quarter. The Manufacturers Life Insurance Company now owns 68,301 shares of the company’s stock valued at $503,000 after purchasing an additional 2,128 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of 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 purchasing an additional 2,296 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in shares of Fastly by 7.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 36,464 shares of the company’s stock worth $473,000 after buying an additional 2,610 shares in the last quarter. Finally, Cambridge Trust Co. bought a new position in Fastly during the first quarter valued at approximately $39,000. Institutional investors own 79.71% of the company’s stock.

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.