Fastly (NYSE:FSLY) Given New $10.00 Price Target at Citigroup

Fastly (NYSE:FSLY) had its price target hoisted by Citigroup from $9.00 to $10.00 in a report released on Friday,Benzinga reports. Citigroup currently has a neutral rating on the stock.

Other research analysts have also recently issued research reports about the stock. Oppenheimer raised shares of Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price target on the stock in a report on Monday, December 2nd. Piper Sandler raised their price target on Fastly from $8.00 to $10.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. DA Davidson boosted their price objective on Fastly from $5.50 to $7.50 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Robert W. Baird raised their target price on shares of Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Craig Hallum lifted their target price on shares of Fastly from $6.00 to $8.00 and gave the company a “hold” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $8.85.

Fastly Trading Down 1.1 %

NYSE:FSLY opened at $9.31 on Friday. Fastly has a 1 year low of $5.52 and a 1 year high of $25.87. The stock’s fifty day moving average price is $9.11 and its two-hundred day moving average price is $7.77. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.97 and a quick ratio of 3.97. The company has a market cap of $1.31 billion, a P/E ratio of -8.54 and a beta of 1.24.

Fastly (NYSE:FSLY) last posted its earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates 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 business 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 firm earned ($0.33) EPS. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. As a group, analysts expect that Fastly will post -0.86 EPS for the current year.

Insider Buying and Selling at Fastly

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 DIFC Ltd bought a new position in Fastly in the second quarter worth about $38,000. FMR LLC boosted its holdings in shares of Fastly by 124.2% during the 3rd quarter. FMR LLC now owns 6,357 shares of the company’s stock valued at $48,000 after buying an additional 3,522 shares in the last quarter. Aigen Investment Management LP purchased a new stake in shares of Fastly in the 3rd quarter worth about $89,000. Lombard Odier Asset Management USA Corp bought a new stake in Fastly during the second quarter worth about $114,000. Finally, Blue Trust Inc. lifted its holdings in shares of Fastly by 15.2% during the third 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 last quarter. Institutional investors own 79.71% of the company’s stock.

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.