Fastly (NYSE:FSLY) Given New $10.00 Price Target at Piper Sandler

Fastly (NYSE:FSLY) had its price target upped by Piper Sandler from $8.00 to $10.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Piper Sandler’s price target indicates a potential upside of 1.32% from the stock’s current price.

A number of other research analysts also recently commented on FSLY. Royal Bank of Canada upped their price objective on Fastly from $6.00 to $7.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 7th. DA Davidson increased their price objective on shares of Fastly from $5.50 to $7.50 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Oppenheimer upgraded 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. Craig Hallum upped their price target on shares of Fastly from $6.00 to $8.00 and gave the company a “hold” rating in a research note on Thursday, November 7th. Finally, Robert W. Baird lifted their target price on Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Fastly presently has an average rating of “Hold” and a consensus target price of $8.55.

Fastly Trading Up 16.4 %

NYSE:FSLY opened at $9.87 on Tuesday. Fastly has a one year low of $5.52 and a one year high of $25.87. The company has a debt-to-equity ratio of 0.36, a quick ratio of 3.97 and a current ratio of 3.97. The firm has a market cap of $1.38 billion, a P/E ratio of -9.05 and a beta of 1.27. The firm has a 50-day simple moving average of $7.39 and a 200-day simple moving average of $7.25.

Fastly (NYSE:FSLY) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.08. The firm had revenue of $137.21 million during the quarter, compared to analysts’ expectations of $131.86 million. Fastly had a negative net margin of 27.47% and a negative return on equity of 13.24%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the company posted ($0.33) EPS. Equities analysts anticipate that Fastly will post -0.87 EPS for the current fiscal year.

Insider Activity

In other Fastly news, CTO Artur Bergman sold 49,178 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $8.07, for a total value of $396,866.46. Following the sale, the chief technology officer now owns 6,155,822 shares in the company, valued at approximately $49,677,483.54. The trade was a 0.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Ronald W. Kisling sold 16,102 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $6.25, for a total transaction of $100,637.50. Following the transaction, the chief financial officer now directly owns 542,462 shares in the company, valued at $3,390,387.50. This represents a 2.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 154,550 shares of company stock worth $1,091,021 in the last three months. 6.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Fastly

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its position in Fastly by 5.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 82,371 shares of the company’s stock valued at $1,069,000 after buying an additional 4,498 shares during the period. CWM LLC boosted its stake in shares of Fastly by 10.5% during the 2nd 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. Simplicity Wealth LLC bought a new position in shares of Fastly in the second quarter valued at about $135,000. SG Americas Securities LLC raised its holdings in Fastly by 88.1% in the 2nd quarter. SG Americas Securities LLC now owns 124,693 shares of the company’s stock valued at $919,000 after acquiring an additional 58,389 shares in the last quarter. Finally, 180 Wealth Advisors LLC boosted its position in Fastly by 347.7% in the second quarter. 180 Wealth Advisors LLC now owns 48,771 shares of the company’s stock valued at $365,000 after buying an additional 37,878 shares in the last quarter. 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.