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

Shares of Fastly, Inc. (NYSE:FSLY) have received an average recommendation of “Hold” from the ten analysts that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $8.55.

A number of research firms have recently issued reports on FSLY. Craig Hallum boosted their target price on Fastly from $6.00 to $8.00 and gave the company a “hold” rating in a report on Thursday, November 7th. Piper Sandler boosted their price objective on shares of Fastly from $8.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Oppenheimer upgraded shares of Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 target price for the company in a research note on Monday, December 2nd. Royal Bank of Canada lifted their target price on shares of Fastly from $6.00 to $7.00 and gave the company a “sector perform” rating in a report on Thursday, November 7th. Finally, Raymond James cut shares of Fastly from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st.

Insider Buying and Selling

In other Fastly news, CEO Todd Nightingale sold 49,816 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $6.25, for a total transaction of $311,350.00. Following the sale, the chief executive officer now directly owns 1,600,973 shares in the company, valued at approximately $10,006,081.25. The trade was a 3.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Artur Bergman sold 3,400 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $12.01, for a total value of $40,834.00. Following the completion of the transaction, the chief technology officer now owns 3,444,136 shares of the company’s stock, valued at approximately $41,364,073.36. This represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 218,641 shares of company stock valued at $1,740,518. Corporate insiders own 6.70% of the company’s stock.

Hedge Funds Weigh In On Fastly

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

Fastly Trading Down 1.3 %

NYSE FSLY opened at $10.04 on Thursday. The firm’s fifty day moving average is $8.40 and its two-hundred day moving average is $7.51. Fastly has a one year low of $5.52 and a one year high of $25.87. 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 firm has a market cap of $1.41 billion, a PE ratio of -9.21 and a beta of 1.27.

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