DA Davidson Boosts Fastly (NYSE:FSLY) Price Target to $7.50

Fastly (NYSE:FSLY) had its price target raised by stock analysts at DA Davidson from $5.50 to $7.50 in a report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. DA Davidson’s price objective would suggest a potential downside of 2.15% from the company’s current price. DA Davidson also issued estimates for Fastly’s Q4 2024 earnings at ($0.19) EPS.

A number of other equities analysts have also issued reports on FSLY. Raymond James lowered shares of Fastly from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 1st. Morgan Stanley lowered their price objective on shares of Fastly from $12.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 27th. Craig Hallum upped their target price on Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a research report on Thursday. Royal Bank of Canada lifted their price target on Fastly from $6.00 to $7.00 and gave the company a “sector perform” rating in a research report on Thursday. Finally, Robert W. Baird upped their price objective on Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Thursday. One analyst has rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat.com, Fastly has a consensus rating of “Hold” and an average target price of $7.94.

Fastly Price Performance

Shares of FSLY stock opened at $7.67 on Thursday. Fastly has a 12-month low of $5.52 and a 12-month high of $25.87. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.13 and a quick ratio of 4.13. The business has a 50 day simple moving average of $7.09 and a 200 day simple moving average of $7.61.

Fastly (NYSE:FSLY) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.01. Fastly had a negative return on equity of 13.19% and a negative net margin of 27.47%. The company had revenue of $132.37 million during the quarter, compared to analysts’ expectations of $131.62 million. During the same quarter in the prior year, the business posted ($0.32) earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. Sell-side analysts anticipate that Fastly will post -0.96 earnings per share for the current year.

Insider Buying and Selling at Fastly

In other news, CFO Ronald W. Kisling sold 15,933 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $6.18, for a total value of $98,465.94. Following the completion of the sale, the chief financial officer now owns 570,124 shares of the company’s stock, valued at $3,523,366.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Ronald W. Kisling sold 15,933 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $6.18, for a total transaction of $98,465.94. Following the transaction, the chief financial officer now owns 570,124 shares in the company, valued at $3,523,366.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Artur Bergman sold 16,748 shares of Fastly stock in a transaction on Friday, August 16th. The shares were sold at an average price of $6.18, for a total transaction of $103,502.64. Following the completion of the sale, the chief technology officer now directly owns 6,225,980 shares of the company’s stock, valued at approximately $38,476,556.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 192,628 shares of company stock valued at $1,287,959 in the last three months. 6.70% of the stock is currently owned by company insiders.

Institutional Trading of Fastly

Several large investors have recently made changes to their positions in the stock. Intech Investment Management LLC acquired a new stake in Fastly in the 3rd quarter worth approximately $328,000. Aigen Investment Management LP acquired a new stake in shares of Fastly in the third quarter worth $89,000. Entropy Technologies LP boosted its holdings in shares of Fastly by 118.7% during the 3rd quarter. Entropy Technologies LP now owns 39,803 shares of the company’s stock worth $301,000 after buying an additional 21,600 shares during the period. International Assets Investment Management LLC grew its stake in Fastly by 308.0% in the 3rd quarter. International Assets Investment Management LLC now owns 76,101 shares of the company’s stock valued at $5,760,000 after buying an additional 57,448 shares during the last quarter. Finally, Wealth Effects LLC raised its holdings in Fastly by 86.9% in the 3rd quarter. Wealth Effects LLC now owns 23,651 shares of the company’s stock worth $179,000 after acquiring an additional 11,000 shares during the period. 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.