Piper Sandler Reaffirms Neutral Rating for Fastly (NYSE:FSLY)

Fastly (NYSE:FSLY)‘s stock had its “neutral” rating reiterated by investment analysts at Piper Sandler in a research report issued on Thursday,Benzinga reports. They presently have a $9.00 price objective on the stock, down from their prior price objective of $10.00. Piper Sandler’s target price would suggest a potential upside of 11.32% from the stock’s previous close.

FSLY has been the subject of a number of other research reports. Robert W. Baird boosted their target price on Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. DA Davidson boosted their target price on Fastly from $5.50 to $7.50 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Craig Hallum boosted their target price on Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a research report on Thursday, November 7th. Royal Bank of Canada boosted their target price on Fastly from $7.00 to $10.00 and gave the stock a “sector perform” rating in a research report on Friday, January 3rd. Finally, Oppenheimer raised Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 target price for the company in a research report on Monday, December 2nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Fastly currently has an average rating of “Hold” and an average price target of $8.55.

Fastly Price Performance

Shares of NYSE:FSLY opened at $8.09 on Thursday. Fastly has a 1-year low of $5.52 and a 1-year high of $18.42. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.97 and a quick ratio of 3.97. The business has a fifty day moving average price of $9.99 and a 200-day moving average price of $8.11. The company has a market capitalization of $1.13 billion, a PE ratio of -7.42 and a beta of 1.26.

Fastly (NYSE:FSLY) last issued its quarterly earnings results on Wednesday, February 12th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.22). Fastly had a negative net margin of 27.47% and a negative return on equity of 13.24%. As a group, equities analysts expect that Fastly will post -0.86 EPS for the current fiscal year.

Insider Activity at Fastly

In related news, CFO Ronald W. Kisling sold 16,102 shares of the business’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 completion of the transaction, the chief financial officer now directly owns 542,462 shares in the company, valued at approximately $3,390,387.50. The trade was a 2.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Todd Nightingale sold 49,816 shares of the business’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 value of $311,350.00. Following the completion of the transaction, the chief executive officer now directly owns 1,600,973 shares in the company, valued at approximately $10,006,081.25. This represents a 3.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 260,152 shares of company stock worth $2,287,883. 6.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. PDT Partners LLC lifted its holdings in Fastly by 247.2% in the 4th quarter. PDT Partners LLC now owns 254,943 shares of the company’s stock worth $2,407,000 after purchasing an additional 181,519 shares in the last quarter. Northern Trust Corp lifted its holdings in Fastly by 28.3% in the 4th quarter. Northern Trust Corp now owns 1,577,729 shares of the company’s stock worth $14,894,000 after purchasing an additional 348,451 shares in the last quarter. Tudor Investment Corp ET AL purchased a new position in Fastly in the 4th quarter worth approximately $2,872,000. Susquehanna Fundamental Investments LLC purchased a new position in Fastly in the 4th quarter worth approximately $2,448,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Fastly by 3.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 621,698 shares of the company’s stock worth $5,870,000 after purchasing an additional 21,832 shares in the last quarter. 79.71% of the stock is 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.