Fastly’s (FSLY) “Neutral” Rating Reiterated at Piper Sandler

Piper Sandler reissued their neutral rating on shares of Fastly (NYSE:FSLY) in a research report sent to investors on Thursday,Benzinga reports. Piper Sandler currently has a $9.00 price target on the stock, down from their prior price target of $10.00.

Several other research analysts have also recently issued reports on the company. Citigroup lifted their target price on Fastly from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Friday, January 17th. Robert W. Baird upped their price objective on Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Oppenheimer upgraded Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price objective for the company in a research note on Monday, December 2nd. Craig Hallum increased their price target on Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a research note on Thursday, November 7th. Finally, Royal Bank of Canada increased their price objective on Fastly from $7.00 to $10.00 and gave the stock a “sector perform” rating in a report on Friday, January 3rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $8.55.

Fastly Trading Up 1.4 %

Shares of Fastly stock opened at $8.09 on Thursday. The stock has a market cap of $1.13 billion, a PE ratio of -7.42 and a beta of 1.26. The company has a 50-day moving average of $9.93 and a two-hundred day moving average of $8.11. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.36. Fastly has a 12-month low of $5.52 and a 12-month high of $18.42.

Fastly (NYSE:FSLY) last announced its quarterly earnings data on Wednesday, February 12th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.22). Fastly had a negative net margin of 27.47% and a negative return on equity of 13.24%. On average, research analysts anticipate that Fastly will post -0.86 EPS for the current fiscal year.

Insider Activity

In related news, CTO Artur Bergman sold 16,922 shares of the firm’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 transaction of $105,762.50. Following the transaction, the chief technology officer now directly owns 6,138,900 shares in the company, valued at $38,368,125. This trade represents a 0.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Todd Nightingale sold 49,816 shares of Fastly 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 completion of the sale, the chief executive officer now owns 1,600,973 shares in the company, valued at approximately $10,006,081.25. This represents a 3.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 260,152 shares of company stock worth $2,287,883. 6.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Fastly

A number of large investors have recently made changes to their positions in FSLY. 180 Wealth Advisors LLC lifted its stake in shares of Fastly by 2.5% in the 4th quarter. 180 Wealth Advisors LLC now owns 68,643 shares of the company’s stock valued at $648,000 after purchasing an additional 1,695 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Fastly by 3.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 68,301 shares of the company’s stock valued at $503,000 after purchasing an additional 2,128 shares during the period. Blue Trust Inc. lifted its stake in shares of Fastly by 15.2% in the 3rd quarter. Blue Trust Inc. now owns 17,420 shares of the company’s stock valued at $128,000 after purchasing an additional 2,296 shares during the period. AlphaQuest LLC lifted its stake in shares of Fastly by 169.1% in the 4th quarter. AlphaQuest LLC now owns 4,710 shares of the company’s stock valued at $44,000 after purchasing an additional 2,960 shares during the period. Finally, Rhumbline Advisers lifted its stake in shares of Fastly by 1.6% in the 4th quarter. Rhumbline Advisers now owns 192,131 shares of the company’s stock valued at $1,814,000 after purchasing an additional 3,081 shares during the period. 79.71% of the stock is currently owned by institutional investors.

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.