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

Shares of Fastly, Inc. (NYSE:FSLY) have been assigned an average rating of “Hold” from the ten ratings firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $8.85.

A number of research firms have recently commented on FSLY. Robert W. Baird raised their price target on Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Raymond James downgraded shares of Fastly from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 1st. DA Davidson upped their target price on shares of Fastly from $5.50 to $7.50 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Royal Bank of Canada boosted their price target on Fastly from $7.00 to $10.00 and gave the company a “sector perform” rating in a report on Friday, January 3rd. Finally, Piper Sandler increased their price objective on Fastly from $8.00 to $10.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd.

Insider Activity at Fastly

In related news, CTO Artur Bergman sold 49,178 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $8.07, for a total value of $396,866.46. Following the completion of the sale, the chief technology officer now directly owns 6,155,822 shares in the company, valued at approximately $49,677,483.54. This trade represents a 0.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Todd Nightingale sold 49,816 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $6.25, for a total value of $311,350.00. Following the transaction, the chief executive officer now directly owns 1,600,973 shares in the company, valued at approximately $10,006,081.25. This trade represents a 3.02 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 241,741 shares of company stock valued at $1,993,300. Insiders own 6.70% of the company’s stock.

Hedge Funds Weigh In On Fastly

Several institutional investors and hedge funds have recently modified their holdings of the stock. Point72 DIFC Ltd bought a new position in shares of Fastly during the second quarter worth approximately $38,000. FMR LLC grew 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 valued at $48,000 after acquiring an additional 3,522 shares in the last quarter. Aigen Investment Management LP bought a new position in Fastly during the third quarter worth about $89,000. Lombard Odier Asset Management USA Corp acquired a new stake in Fastly in the 2nd quarter worth about $114,000. Finally, Blue Trust Inc. grew its position in shares of Fastly by 15.2% during the 3rd quarter. Blue Trust Inc. now owns 17,420 shares of the company’s stock worth $128,000 after purchasing an additional 2,296 shares in the last quarter. 79.71% of the stock is currently owned by institutional investors and hedge funds.

Fastly Stock Down 1.1 %

Shares of Fastly stock opened at $9.31 on Monday. Fastly has a 12 month low of $5.52 and a 12 month high of $25.87. The business has a fifty day simple moving average of $9.14 and a 200 day simple moving average of $7.79. 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 stock has a market cap of $1.31 billion, a PE ratio of -8.54 and a beta of 1.24.

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