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

Fastly, Inc. (NYSE:FSLY) has earned an average rating of “Hold” from the ten brokerages that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $8.55.

A number of brokerages have weighed in on FSLY. DA Davidson increased their price target on Fastly from $5.50 to $7.50 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Citigroup increased their price target on Fastly from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. Piper Sandler reiterated a “neutral” rating and set a $9.00 price target (down from $10.00) on shares of Fastly in a report on Thursday. Oppenheimer upgraded Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price target for the company in a report on Monday, December 2nd. Finally, Robert W. Baird increased their price target on Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th.

Insider Transactions at Fastly

In related news, CTO Artur Bergman sold 16,922 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $6.25, for a total value of $105,762.50. Following the transaction, the chief technology officer now owns 6,138,900 shares of the company’s stock, valued at approximately $38,368,125. This trade represents a 0.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Todd Nightingale sold 49,816 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $6.25, for a total transaction of $311,350.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold 260,152 shares of company stock valued at $2,287,883 in the last 90 days. 6.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Fastly

Several large investors have recently added to or reduced their stakes in FSLY. Bank of Montreal Can lifted its position in Fastly by 11,140.2% in the 3rd quarter. Bank of Montreal Can now owns 1,305,101 shares of the company’s stock valued at $9,867,000 after acquiring an additional 1,293,490 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Fastly during the 4th quarter worth approximately $7,618,000. Penserra Capital Management LLC lifted its position in shares of Fastly by 18.8% during the 3rd quarter. Penserra Capital Management LLC now owns 5,075,127 shares of the company’s stock worth $38,418,000 after buying an additional 801,968 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Fastly by 402.8% during the 4th quarter. Alliancebernstein L.P. now owns 844,349 shares of the company’s stock worth $7,971,000 after buying an additional 676,408 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Fastly during the 4th quarter worth approximately $3,717,000. Institutional investors own 79.71% of the company’s stock.

Fastly Stock Performance

NYSE FSLY opened at $7.97 on Friday. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of -7.31 and a beta of 1.26. Fastly has a twelve month low of $5.52 and a twelve month high of $23.68. The stock has a fifty day simple moving average of $10.03 and a 200 day simple moving average of $8.11. The company has a quick ratio of 3.97, a current ratio of 3.97 and a debt-to-equity ratio of 0.36.

Fastly (NYSE:FSLY) last posted its quarterly earnings data on Wednesday, February 12th. The company reported ($0.21) earnings per share 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%. Sell-side analysts expect 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.