Fastly, Inc. (NYSE:FSLY) Receives $8.85 Average PT from Analysts

Fastly, Inc. (NYSE:FSLY) has been assigned an average rating of “Hold” from the ten research firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $8.85.

Several analysts have recently commented on FSLY shares. Citigroup raised their price objective on shares of 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 boosted their price objective on Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Royal Bank of Canada increased their target price on Fastly from $7.00 to $10.00 and gave the stock a “sector perform” rating in a research report on Friday, January 3rd. Craig Hallum boosted their price target on Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a report on Thursday, November 7th. Finally, Oppenheimer raised shares of Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price objective for the company in a report on Monday, December 2nd.

Fastly Stock Performance

Shares of FSLY opened at $10.26 on Monday. The business has a 50-day simple moving average of $9.35 and a two-hundred day simple moving average of $7.86. 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 has a 52 week low of $5.52 and a 52 week high of $25.87. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of -9.41 and a beta of 1.24.

Fastly (NYSE:FSLY) last released its 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 net margin of 27.47% and a negative return on equity of 13.24%. The company had revenue of $137.21 million during the quarter, compared to analyst estimates of $131.86 million. During the same period in the prior year, the firm posted ($0.33) EPS. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, analysts expect that Fastly will post -0.86 EPS for the current year.

Insider Activity

In other Fastly news, CFO Ronald W. Kisling sold 6,038 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $9.45, for a total transaction of $57,059.10. Following the sale, the chief financial officer now directly owns 519,812 shares in the company, valued at $4,912,223.40. This represents a 1.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CTO Artur Bergman sold 3,400 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $12.01, for a total value of $40,834.00. Following the completion of the sale, the chief technology officer now directly owns 3,444,136 shares of the company’s stock, valued at $41,364,073.36. The trade was a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 247,779 shares of company stock worth $2,050,359. 6.70% of the stock is currently owned by insiders.

Institutional Trading of Fastly

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Commonwealth Equity Services LLC boosted its stake in Fastly by 59.4% during the second quarter. Commonwealth Equity Services LLC now owns 48,987 shares of the company’s stock worth $361,000 after buying an additional 18,258 shares during the period. Rhumbline Advisers lifted its holdings in shares of Fastly by 8.5% in the 2nd quarter. Rhumbline Advisers now owns 189,832 shares of the company’s stock worth $1,399,000 after acquiring an additional 14,813 shares during the last quarter. Hsbc Holdings PLC boosted its stake in shares of Fastly by 118.9% during the 2nd quarter. Hsbc Holdings PLC now owns 29,703 shares of the company’s stock worth $218,000 after purchasing an additional 16,131 shares during the period. Ensign Peak Advisors Inc grew its holdings in Fastly by 11.1% during the 2nd quarter. Ensign Peak Advisors Inc now owns 59,258 shares of the company’s stock valued at $437,000 after purchasing an additional 5,900 shares during the last quarter. Finally, Lombard Odier Asset Management USA Corp purchased a new stake in Fastly in the 2nd quarter worth about $114,000. 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.