Fastly (NYSE:FSLY) Stock Price Expected to Rise, Piper Sandler Analyst Says

Fastly (NYSE:FSLY) had its price objective upped by stock analysts at Piper Sandler from $6.00 to $8.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Piper Sandler’s price target would suggest a potential upside of 4.30% from the stock’s previous close.

A number of other research firms have also recently weighed in on FSLY. Craig Hallum decreased their target price on shares of Fastly from $10.00 to $6.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Raymond James downgraded Fastly from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 1st. Finally, Morgan Stanley decreased their target price on Fastly from $12.00 to $7.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $7.94.

Fastly Trading Down 6.1 %

Shares of Fastly stock traded down $0.50 during trading on Thursday, reaching $7.67. The stock had a trading volume of 4,691,265 shares, compared to its average volume of 2,557,700. The stock has a fifty day moving average price of $7.09 and a two-hundred day moving average price of $7.61. The company has a debt-to-equity ratio of 0.35, a quick ratio of 4.13 and a current ratio of 4.13. Fastly has a 52 week low of $5.52 and a 52 week high of $25.87.

Fastly (NYSE:FSLY) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.01. Fastly had a negative net margin of 27.47% and a negative return on equity of 13.19%. The company had revenue of $132.37 million for the quarter, compared to analyst estimates of $131.62 million. During the same period in the previous year, the business earned ($0.32) EPS. Fastly’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, research analysts expect that Fastly will post -0.96 EPS for the current fiscal year.

Insider Activity

In related news, CFO Ronald W. Kisling sold 15,933 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 value of $98,465.94. Following the completion of the sale, the chief financial officer now directly owns 570,124 shares in the company, valued at $3,523,366.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Ronald W. Kisling sold 15,933 shares of the business’s stock in a transaction dated 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 directly owns 570,124 shares in the company, valued at approximately $3,523,366.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Todd Nightingale sold 66,066 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $6.18, for a total value of $408,287.88. Following the transaction, the chief executive officer now owns 1,662,952 shares of the company’s stock, valued at approximately $10,277,043.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 192,628 shares of company stock valued at $1,287,959. 6.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Fastly

Several institutional investors have recently made changes to their positions in FSLY. Point72 DIFC Ltd purchased a new stake in Fastly during the 2nd quarter worth about $38,000. Cambridge Trust Co. purchased a new position in shares of Fastly during the 1st quarter valued at approximately $39,000. Cape Investment Advisory Inc. grew its position in shares of Fastly by 27,666.7% in the 1st quarter. Cape Investment Advisory Inc. now owns 4,165 shares of the company’s stock worth $54,000 after acquiring an additional 4,150 shares in the last quarter. EMC Capital Management lifted its holdings in Fastly by 400.0% in the second quarter. EMC Capital Management now owns 7,500 shares of the company’s stock worth $54,000 after acquiring an additional 6,000 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in Fastly by 95.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 8,849 shares of the company’s stock worth $65,000 after buying an additional 4,318 shares during the last quarter. 79.71% of the stock is currently owned by hedge funds and other 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.