Fastly, Inc. (NYSE:FSLY) Receives $7.81 Consensus Price Target from Analysts

Fastly, Inc. (NYSE:FSLY) has received an average recommendation of “Reduce” from the nine research firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation and eight have assigned a hold recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $7.94.

A number of research analysts have recently issued reports on the stock. Robert W. Baird raised their price target on shares of Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Craig Hallum lifted their target price on Fastly from $6.00 to $8.00 and gave the company a “hold” rating in a research note on Thursday, November 7th. Royal Bank of Canada upped their target price on Fastly from $6.00 to $7.00 and gave the company a “sector perform” rating in a report on Thursday, November 7th. Morgan Stanley cut 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. Finally, DA Davidson upped their price objective on Fastly from $5.50 to $7.50 and gave the stock a “neutral” rating in a research note on Thursday, November 7th.

Fastly Stock Down 1.6 %

Shares of Fastly stock opened at $7.07 on Wednesday. The business has a 50-day moving average price of $7.11 and a 200 day moving average price of $7.50. Fastly has a fifty-two week low of $5.52 and a fifty-two week high of $25.87. The firm has a market cap of $979.21 million, a P/E ratio of -6.59 and a beta of 1.24. The company has a quick ratio of 4.13, a current ratio of 4.13 and a debt-to-equity ratio of 0.35.

Fastly (NYSE:FSLY) last issued its quarterly 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 13.19% and a negative net margin of 27.47%. The business had revenue of $137.21 million during the quarter, compared to the consensus estimate of $131.86 million. During the same period in the previous year, the business earned ($0.33) EPS. The business’s quarterly revenue was up 7.3% on a year-over-year basis. On average, sell-side analysts forecast that Fastly will post -0.95 earnings per share for the current fiscal year.

Insider Transactions at Fastly

In related news, CTO Artur Bergman sold 49,178 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $8.07, for a total value of $396,866.46. Following the completion of 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Ronald W. Kisling sold 15,933 shares of Fastly stock in a transaction on Friday, August 16th. The stock was 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. 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. 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 value of $396,866.46. Following the completion of the sale, the chief technology officer now owns 6,155,822 shares of the company’s stock, valued at approximately $49,677,483.54. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 192,628 shares of company stock valued at $1,287,959. 6.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Fastly

Hedge funds and other institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC boosted its position in shares of Fastly by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,242 shares of the company’s stock valued at $133,000 after purchasing an additional 863 shares in the last quarter. EntryPoint Capital LLC boosted its holdings in Fastly by 41.1% during the first quarter. EntryPoint Capital LLC now owns 5,644 shares of the company’s stock worth $73,000 after buying an additional 1,643 shares in the last quarter. CWM LLC grew its position in Fastly by 10.5% in the second quarter. CWM LLC now owns 22,266 shares of the company’s stock worth $164,000 after buying an additional 2,121 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Fastly by 3.2% in the second quarter. The Manufacturers Life Insurance Company now owns 68,301 shares of the company’s stock valued at $503,000 after buying an additional 2,128 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Fastly by 15.2% during the 3rd quarter. Blue Trust Inc. now owns 17,420 shares of the company’s stock valued at $128,000 after acquiring an additional 2,296 shares during the last quarter. 79.71% of the stock is currently owned by institutional investors.

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.