Fastly (NYSE:FSLY) Price Target Raised to $8.00

Fastly (NYSE:FSLY) had its target price boosted by Robert W. Baird from $7.00 to $8.00 in a report issued on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

FSLY has been the topic of a number of other reports. Morgan Stanley lowered their price target on Fastly from $12.00 to $7.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 27th. Piper Sandler raised their price target on shares of Fastly from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Thursday. Craig Hallum decreased their price objective on shares of Fastly from $10.00 to $6.00 and set a “hold” rating for the company in a report on Thursday, August 8th. Royal Bank of Canada increased their price objective on shares of Fastly from $6.00 to $7.00 and gave the company a “sector perform” rating in a research report on Thursday. Finally, Raymond James downgraded shares of Fastly from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 1st. One analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $7.94.

Fastly Stock Down 6.1 %

NYSE:FSLY traded down $0.50 on Thursday, reaching $7.67. 4,691,265 shares of the stock traded hands, compared to its average volume of 2,557,700. The company has a current ratio of 4.13, a quick ratio of 4.13 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of -7.04 and a beta of 1.24. Fastly has a 12 month low of $5.52 and a 12 month high of $25.87. The company’s fifty day simple moving average is $7.09 and its 200 day simple moving average is $7.61.

Fastly (NYSE:FSLY) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.08. The company had revenue of $137.21 million during the quarter, compared to the consensus estimate of $131.86 million. Fastly had a negative net margin of 27.47% and a negative return on equity of 13.19%. The firm’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) earnings per share. Equities analysts predict that Fastly will post -0.96 EPS for the current fiscal year.

Insider Activity

In related news, CFO Ronald W. Kisling sold 7,449 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $7.24, for a total value of $53,930.76. Following the transaction, the chief financial officer now directly owns 558,564 shares of the company’s stock, valued at approximately $4,044,003.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Fastly news, CFO Ronald W. Kisling sold 7,449 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $7.24, for a total transaction of $53,930.76. Following the sale, the chief financial officer now owns 558,564 shares in the company, valued at approximately $4,044,003.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Todd Nightingale sold 66,066 shares of Fastly stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $6.18, for a total transaction of $408,287.88. Following the transaction, the chief executive officer now directly owns 1,662,952 shares in the company, valued at $10,277,043.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 192,628 shares of company stock valued at $1,287,959 in the last 90 days. Company insiders own 6.70% of the company’s stock.

Institutional Investors Weigh In On Fastly

A number of institutional investors and hedge funds have recently bought and sold shares of the business. CANADA LIFE ASSURANCE Co raised its stake in Fastly by 94.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 960,864 shares of the company’s stock valued at $12,453,000 after purchasing an additional 466,560 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Fastly by 5.1% in the first quarter. Vanguard Group Inc. now owns 13,581,524 shares of the company’s stock worth $176,152,000 after buying an additional 657,334 shares in the last quarter. Oppenheimer & Co. Inc. boosted its position in shares of Fastly by 52.1% during the first quarter. Oppenheimer & Co. Inc. now owns 51,212 shares of the company’s stock worth $664,000 after acquiring an additional 17,536 shares during the last quarter. Qsemble Capital Management LP purchased a new position in Fastly during the second quarter valued at $586,000. Finally, SG Americas Securities LLC grew its stake in Fastly by 77.5% during the third quarter. SG Americas Securities LLC now owns 221,357 shares of the company’s stock valued at $1,676,000 after acquiring an additional 96,664 shares in the last quarter. 79.71% of the stock is owned by institutional investors.

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.