Fastly, Inc. (NYSE:FSLY) Receives $7.81 Consensus PT from Brokerages

Shares of Fastly, Inc. (NYSE:FSLY) have been given a consensus recommendation of “Reduce” by the eight research firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $7.81.

A number of research firms recently commented on FSLY. Morgan Stanley dropped their target price on shares of Fastly from $12.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 27th. Raymond James cut Fastly from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 1st. Craig Hallum reduced their target price on Fastly from $10.00 to $6.00 and set a “hold” rating for the company in a report on Thursday, August 8th. Finally, Piper Sandler downgraded Fastly from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $10.00 to $6.00 in a research note on Thursday, August 8th.

Insider Buying and Selling at Fastly

In other news, CEO Todd Nightingale sold 12,163 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $6.25, for a total transaction of $76,018.75. Following the completion of the sale, the chief executive officer now directly owns 1,650,789 shares in the company, valued at $10,317,431.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Todd Nightingale sold 12,163 shares of Fastly stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $6.25, for a total value of $76,018.75. Following the completion of the transaction, the chief executive officer now owns 1,650,789 shares in the company, valued at approximately $10,317,431.25. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ronald W. Kisling sold 15,933 shares of Fastly stock in a transaction on Friday, August 16th. The stock was sold at an average price of $6.18, for a total transaction of $98,465.94. Following the completion of the transaction, the chief financial officer now directly owns 570,124 shares of the company’s stock, valued at approximately $3,523,366.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 136,001 shares of company stock valued at $837,162 over the last 90 days. 6.70% of the stock is owned by corporate insiders.

Institutional Trading of Fastly

Institutional investors have recently modified their holdings of the company. CANADA LIFE ASSURANCE Co boosted its position in shares of Fastly by 94.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 960,864 shares of the company’s stock worth $12,453,000 after buying an additional 466,560 shares during the period. Vanguard Group Inc. grew its stake in Fastly by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 13,581,524 shares of the company’s stock valued at $176,152,000 after acquiring an additional 657,334 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Fastly by 9.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,906,860 shares of the company’s stock valued at $33,942,000 after purchasing an additional 162,659 shares during the period. Oppenheimer & Co. Inc. lifted its position in shares of Fastly by 52.1% in the first quarter. Oppenheimer & Co. Inc. now owns 51,212 shares of the company’s stock worth $664,000 after purchasing an additional 17,536 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new stake in shares of Fastly during the fourth quarter worth approximately $2,933,000. Institutional investors and hedge funds own 79.71% of the company’s stock.

Fastly Stock Down 1.9 %

FSLY stock opened at $7.24 on Friday. Fastly has a 52 week low of $5.52 and a 52 week high of $25.87. The company has a quick ratio of 4.13, a current ratio of 4.13 and a debt-to-equity ratio of 0.35. The firm has a 50-day simple moving average of $6.65 and a 200-day simple moving average of $8.28. The stock has a market capitalization of $989.26 million, a P/E ratio of -7.24 and a beta of 1.22.

Fastly (NYSE:FSLY) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.01. Fastly had a negative return on equity of 15.22% and a negative net margin of 31.02%. The firm had revenue of $132.37 million during the quarter, compared to the consensus estimate of $131.62 million. During the same period in the prior year, the company earned ($0.32) EPS. The firm’s revenue was up 7.8% compared to the same quarter last year. Equities analysts forecast that Fastly will post -0.96 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.