Fastly (NYSE:FSLY) Trading Up 5.2% – Still a Buy?

Shares of Fastly, Inc. (NYSE:FSLY) shot up 5.2% on Thursday . The stock traded as high as $6.83 and last traded at $6.82. 377,660 shares were traded during trading, a decline of 89% from the average session volume of 3,513,754 shares. The stock had previously closed at $6.48.

Analyst Upgrades and Downgrades

FSLY has been the subject of a number of recent analyst reports. Morgan Stanley cut their price objective on shares of Fastly from $12.00 to $7.00 and set an “equal weight” rating for the company in a report on Tuesday, August 27th. Piper Sandler boosted their target price on shares of Fastly from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. DA Davidson lifted their price target on shares of Fastly from $5.50 to $7.50 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Royal Bank of Canada increased their price objective on Fastly from $6.00 to $7.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 7th. Finally, Raymond James downgraded Fastly from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $7.94.

Fastly Stock Up 12.2 %

The company has a debt-to-equity ratio of 0.36, a quick ratio of 3.97 and a current ratio of 3.97. The stock has a fifty day moving average price of $7.24 and a two-hundred day moving average price of $7.30. The firm has a market capitalization of $1.02 billion, a P/E ratio of -6.29 and a beta of 1.24.

Fastly (NYSE:FSLY) last issued its quarterly earnings data 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. The firm had revenue of $137.21 million for the quarter, compared to the consensus estimate of $131.86 million. Fastly had a negative net margin of 27.47% and a negative return on equity of 13.24%. Fastly’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.33) EPS. Research analysts forecast that Fastly, Inc. will post -0.86 EPS for the current year.

Insider Activity

In other news, CTO Artur Bergman sold 19,889 shares of Fastly stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $5.96, for a total value of $118,538.44. Following the transaction, the chief technology officer now owns 6,205,000 shares of the company’s stock, valued at $36,981,800. This trade represents a 0.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Ronald W. Kisling sold 7,449 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $7.24, for a total transaction of $53,930.76. Following the transaction, the chief financial officer now owns 558,564 shares in the company, 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. In the last quarter, insiders sold 175,630 shares of company stock worth $1,188,405. Corporate insiders own 6.70% of the company’s stock.

Institutional Trading of Fastly

Several hedge funds have recently modified their holdings of FSLY. CANADA LIFE ASSURANCE Co lifted its stake in shares of Fastly by 94.4% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 960,864 shares of the company’s stock valued at $12,453,000 after purchasing an additional 466,560 shares during the period. Vanguard Group Inc. boosted its holdings in Fastly by 5.1% during the first quarter. Vanguard Group Inc. now owns 13,581,524 shares of the company’s stock worth $176,152,000 after buying an additional 657,334 shares during the last quarter. Qsemble Capital Management LP acquired a new position in shares of Fastly during the 2nd quarter worth about $586,000. SG Americas Securities LLC increased its stake in shares of Fastly by 77.5% in the 3rd quarter. SG Americas Securities LLC now owns 221,357 shares of the company’s stock valued at $1,676,000 after acquiring an additional 96,664 shares during the last quarter. Finally, Marshall Wace LLP raised its position in shares of Fastly by 1,197.4% in the 2nd quarter. Marshall Wace LLP now owns 151,172 shares of the company’s stock valued at $1,114,000 after acquiring an additional 139,520 shares during the period. 79.71% of the stock is owned by institutional investors.

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.