Fastly (NYSE:FSLY) Stock Price Expected to Rise, Piper Sandler Analyst Says

Fastly (NYSE:FSLY) had its target price increased by research analysts at Piper Sandler from $8.00 to $10.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Piper Sandler’s price objective points to a potential upside of 1.94% from the stock’s previous close.

Several other equities research analysts have also issued reports on FSLY. Robert W. Baird lifted their price target on Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Morgan Stanley decreased their price objective on Fastly from $12.00 to $7.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 27th. Royal Bank of Canada lifted their price objective on Fastly from $6.00 to $7.00 and gave the stock a “sector perform” rating in a report on Thursday, November 7th. Oppenheimer upgraded Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price objective on the stock in a report on Monday. Finally, Raymond James downgraded Fastly from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $8.55.

Fastly Trading Up 4.5 %

Shares of FSLY stock opened at $9.81 on Tuesday. The company has a quick ratio of 3.97, a current ratio of 3.97 and a debt-to-equity ratio of 0.36. The business has a 50-day moving average price of $7.53 and a two-hundred day moving average price of $7.28. Fastly has a 12-month low of $5.52 and a 12-month high of $25.87. The firm has a market cap of $1.38 billion, a P/E ratio of -9.00 and a beta of 1.27.

Fastly (NYSE:FSLY) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter in the previous year, the company posted ($0.33) earnings per share. The company’s revenue was up 7.3% compared to the same quarter last year. Equities analysts anticipate that Fastly will post -0.87 EPS for the current fiscal year.

Insider Activity at Fastly

In other Fastly news, CTO Artur Bergman sold 29,858 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $10.07, for a total transaction of $300,670.06. Following the transaction, the chief technology officer now owns 6,088,236 shares in the company, valued at approximately $61,308,536.52. This represents a 0.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ronald W. Kisling sold 7,449 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $7.24, for a total value of $53,930.76. Following the transaction, the chief financial officer now owns 558,564 shares in the company, valued at $4,044,003.36. This trade represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 185,600 shares of company stock worth $1,402,681 in the last 90 days. Company insiders own 6.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in FSLY. Price T Rowe Associates Inc. MD boosted its position in shares of Fastly by 5.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 82,371 shares of the company’s stock worth $1,069,000 after purchasing an additional 4,498 shares in the last quarter. CWM LLC boosted its position in shares of Fastly by 10.5% in the 2nd quarter. CWM LLC now owns 22,266 shares of the company’s stock worth $164,000 after purchasing an additional 2,121 shares in the last quarter. Simplicity Wealth LLC bought a new stake in shares of Fastly in the 2nd quarter worth approximately $135,000. SG Americas Securities LLC boosted its position in shares of Fastly by 88.1% in the 2nd quarter. SG Americas Securities LLC now owns 124,693 shares of the company’s stock worth $919,000 after purchasing an additional 58,389 shares in the last quarter. Finally, 180 Wealth Advisors LLC boosted its position in shares of Fastly by 347.7% in the 2nd quarter. 180 Wealth Advisors LLC now owns 48,771 shares of the company’s stock worth $365,000 after purchasing an additional 37,878 shares in the last quarter. Hedge funds and other institutional investors own 79.71% of the company’s stock.

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.