Fastly (NYSE:FSLY) Stock Price Up 5.6% – What’s Next?

Fastly, Inc. (NYSE:FSLY) shot up 5.6% on Monday . The stock traded as high as $7.20 and last traded at $7.24. 264,466 shares traded hands during trading, a decline of 92% from the average session volume of 3,138,305 shares. The stock had previously closed at $6.85.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on FSLY. Royal Bank of Canada reduced their target price on Fastly from $10.00 to $8.00 and set a “sector perform” rating for the company in a research note on Thursday, February 13th. Citigroup raised their price objective on Fastly from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. Piper Sandler reiterated a “neutral” rating and issued a $9.00 target price (down from $10.00) on shares of Fastly in a report on Thursday, February 13th. Finally, Oppenheimer upgraded shares of Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price target for the company in a research note on Monday, December 2nd. One 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. According to MarketBeat.com, Fastly currently has an average rating of “Hold” and a consensus price target of $8.55.

Fastly Stock Performance

The company’s 50 day simple moving average is $8.67 and its 200 day simple moving average is $8.19. 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 stock has a market cap of $1.02 billion, a PE ratio of -6.27 and a beta of 1.31.

Fastly (NYSE:FSLY) last released its earnings results on Wednesday, February 12th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.22). Fastly had a negative net margin of 29.07% and a negative return on equity of 12.75%. Analysts expect that Fastly, Inc. will post -0.78 earnings per share for the current year.

Insider Activity

In other news, CTO Artur Bergman sold 3,400 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $12.01, for a total transaction of $40,834.00. Following the completion of the sale, the chief technology officer now owns 3,444,136 shares in the company, valued at $41,364,073.36. This trade represents a 0.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Ronald W. Kisling sold 6,038 shares of the stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $9.45, for a total value of $57,059.10. Following the transaction, the chief financial officer now directly owns 519,812 shares of the company’s stock, valued at approximately $4,912,223.40. This trade represents a 1.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 177,099 shares of company stock valued at $1,627,884 in the last ninety days. 6.70% of the stock is currently owned by insiders.

Institutional Trading of Fastly

Institutional investors have recently added to or reduced their stakes in the stock. AlphaQuest LLC increased its holdings in shares of Fastly by 169.1% in the fourth quarter. AlphaQuest LLC now owns 4,710 shares of the company’s stock worth $44,000 after purchasing an additional 2,960 shares during the period. FMR LLC lifted its position in Fastly by 124.2% during the third quarter. FMR LLC now owns 6,357 shares of the company’s stock valued at $48,000 after purchasing an additional 3,522 shares during the last quarter. Jones Financial Companies Lllp grew its stake in Fastly by 128.9% in the 4th quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company’s stock worth $54,000 after buying an additional 3,221 shares in the last quarter. Wealthfront Advisers LLC bought a new position in shares of Fastly in the 4th quarter worth $72,000. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Fastly during the 4th quarter valued at $82,000. Hedge funds and other institutional investors own 79.71% of the company’s stock.

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.