Analysts Set Fastly, Inc. (NYSE:FSLY) PT at $7.81

Shares of Fastly, Inc. (NYSE:FSLY) have been assigned an average rating of “Hold” from the eight brokerages that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $7.81.

FSLY has been the subject of several research analyst reports. Piper Sandler cut Fastly from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $10.00 to $6.00 in a research report on Thursday, August 8th. Raymond James cut their price objective on shares of Fastly from $13.00 to $8.00 and set a “strong-buy” rating for the company in a report on Thursday, August 8th. Craig Hallum reduced their price objective on shares of Fastly from $10.00 to $6.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Finally, Morgan Stanley dropped their target price on shares of Fastly from $12.00 to $7.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 27th.

Insider Activity

In related news, CFO Ronald W. Kisling sold 7,449 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $8.84, for a total value of $65,849.16. Following the sale, the chief financial officer now owns 586,057 shares in the company, valued at $5,180,743.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CTO Artur Bergman sold 19,889 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $5.96, for a total value of $118,538.44. Following the completion of the sale, the chief technology officer now directly owns 6,205,000 shares of the company’s stock, valued at approximately $36,981,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ronald W. Kisling sold 7,449 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $8.84, for a total value of $65,849.16. Following the transaction, the chief financial officer now directly owns 586,057 shares in the company, valued at approximately $5,180,743.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 155,450 shares of company stock worth $990,251. 6.70% of the stock is currently owned by insiders.

Institutional Trading of Fastly

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co grew its stake in Fastly by 94.4% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 960,864 shares of the company’s stock worth $12,453,000 after acquiring an additional 466,560 shares in the last quarter. Vanguard Group Inc. increased its holdings in Fastly by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 13,581,524 shares of the company’s stock worth $176,152,000 after purchasing an additional 657,334 shares during the period. Goldman Sachs Group Inc. raised its position in Fastly by 9.3% during 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 in the last quarter. Oppenheimer & Co. Inc. lifted its holdings in shares of Fastly by 52.1% in the 1st quarter. Oppenheimer & Co. Inc. now owns 51,212 shares of the company’s stock worth $664,000 after buying an additional 17,536 shares during the period. Finally, Wellington Management Group LLP purchased a new stake in shares of Fastly in the 4th quarter worth $2,933,000. 79.71% of the stock is owned by hedge funds and other institutional investors.

Fastly Stock Up 1.5 %

FSLY stock opened at $7.15 on Tuesday. The business’s 50-day moving average price is $6.79 and its 200-day moving average price is $9.03. The stock has a market cap of $976.28 million, a P/E ratio of -7.15 and a beta of 1.20. Fastly has a twelve month low of $5.52 and a twelve month 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.

Fastly (NYSE:FSLY) last released its earnings results on Wednesday, August 7th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01. The company had revenue of $132.37 million for the quarter, compared to analysts’ expectations of $131.62 million. Fastly had a negative net margin of 31.02% and a negative return on equity of 15.22%. Fastly’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.32) EPS. On average, equities research analysts forecast that Fastly will post -0.96 EPS 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.