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

Fastly, Inc. (NYSE:FSLY) has been given a consensus recommendation of “Hold” by the ten analysts that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $8.55.

Several analysts have recently issued reports on the stock. Robert W. Baird upped their target price on shares of Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Royal Bank of Canada increased their price objective on shares of Fastly from $6.00 to $7.00 and gave the company a “sector perform” rating in a research note on Thursday, November 7th. Piper Sandler boosted their target price on Fastly from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Oppenheimer raised Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price target for the company in a research report on Monday, December 2nd. Finally, Raymond James downgraded Fastly from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 1st.

Insider Activity at Fastly

In other Fastly news, CEO Todd Nightingale sold 49,816 shares of Fastly stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $6.25, for a total transaction of $311,350.00. Following the completion of the sale, the chief executive officer now owns 1,600,973 shares of the company’s stock, valued at $10,006,081.25. The trade was a 3.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 transaction, the chief financial officer now owns 558,564 shares of the company’s stock, valued at $4,044,003.36. The trade was a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 228,641 shares of company stock valued at $1,841,418. Company insiders own 6.70% of the company’s stock.

Institutional Investors Weigh In On Fastly

Hedge funds and other institutional investors have recently modified their holdings of the stock. Point72 DIFC Ltd bought a new stake in Fastly in the second quarter valued at approximately $38,000. FMR LLC increased its stake in shares of Fastly by 124.2% in the third quarter. FMR LLC now owns 6,357 shares of the company’s stock worth $48,000 after buying an additional 3,522 shares during the period. Daiwa Securities Group Inc. raised its holdings in Fastly by 95.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 8,849 shares of the company’s stock valued at $65,000 after buying an additional 4,318 shares during the last quarter. Aigen Investment Management LP purchased a new stake in Fastly during the 3rd quarter valued at $89,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in Fastly in the 2nd quarter worth $103,000. Institutional investors own 79.71% of the company’s stock.

Fastly Trading Down 1.7 %

NYSE:FSLY opened at $9.44 on Thursday. 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 has a one year low of $5.52 and a one year high of $25.87. The company has a market cap of $1.32 billion, a PE ratio of -8.66 and a beta of 1.27. The firm has a 50-day moving average of $8.56 and a 200-day moving average of $7.56.

Fastly (NYSE:FSLY) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.08. Fastly had a negative return on equity of 13.24% and a negative net margin of 27.47%. The firm had revenue of $137.21 million during the quarter, compared to analyst estimates of $131.86 million. During the same period in the previous year, the company posted ($0.33) EPS. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, equities research analysts expect that Fastly will post -0.86 EPS 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.