Fastly (NYSE:FSLY) Shares Up 6.9% – Should You Buy?

Fastly, Inc. (NYSE:FSLY)’s share price rose 6.9% on Thursday . The company traded as high as $10.34 and last traded at $10.36. Approximately 1,335,350 shares were traded during mid-day trading, a decline of 39% from the average daily volume of 2,187,004 shares. The stock had previously closed at $9.69.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on FSLY shares. Royal Bank of Canada boosted their target price on shares of Fastly from $7.00 to $10.00 and gave the company a “sector perform” rating in a research note on Friday, January 3rd. Piper Sandler raised their price target on shares of Fastly from $8.00 to $10.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Craig Hallum raised their target price 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. DA Davidson raised their price objective on Fastly from $5.50 to $7.50 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, Oppenheimer raised Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 target price on the stock in a research report on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $8.85.

Fastly Stock Down 1.8 %

The stock has a market cap of $1.44 billion, a PE ratio of -9.41 and a beta of 1.24. The business has a 50 day moving average price of $9.43 and a 200 day moving average price of $7.88. The company has a quick ratio of 3.97, a current ratio of 3.97 and a debt-to-equity ratio of 0.36.

Fastly (NYSE:FSLY) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.08. Fastly had a negative net margin of 27.47% and a negative return on equity of 13.24%. The business had revenue of $137.21 million for the quarter, compared to analysts’ expectations of $131.86 million. During the same quarter last year, the company earned ($0.33) EPS. The business’s revenue was up 7.3% on a year-over-year basis. Equities research analysts expect that Fastly, Inc. will post -0.86 EPS for the current fiscal year.

Insider Activity

In related news, CTO Artur Bergman sold 8,049 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $10.04, for a total transaction of $80,811.96. Following the transaction, the chief technology officer now directly owns 3,426,087 shares in the company, valued at approximately $34,397,913.48. The trade was a 0.23 % 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, CFO Ronald W. Kisling sold 6,038 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $9.45, for a total transaction of $57,059.10. Following the completion of the sale, the chief financial officer now owns 519,812 shares of the company’s stock, valued at approximately $4,912,223.40. The trade was a 1.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 247,779 shares of company stock worth $2,050,359 in the last ninety days. Company insiders own 6.70% of the company’s stock.

Institutional Investors Weigh In On Fastly

Several hedge funds and other institutional investors have recently made changes to their positions in FSLY. Wealth Effects LLC grew its holdings in Fastly by 21.1% in the 4th quarter. Wealth Effects LLC now owns 28,651 shares of the company’s stock valued at $270,000 after buying an additional 5,000 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Fastly by 56.6% in the 4th quarter. SG Americas Securities LLC now owns 346,632 shares of the company’s stock valued at $3,272,000 after acquiring an additional 125,275 shares during the period. 180 Wealth Advisors LLC boosted its position in shares of Fastly by 2.5% during the fourth quarter. 180 Wealth Advisors LLC now owns 68,643 shares of the company’s stock worth $648,000 after buying an additional 1,695 shares during the period. Geode Capital Management LLC boosted its holdings in Fastly by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 3,015,455 shares of the company’s stock valued at $22,831,000 after acquiring an additional 46,951 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Fastly in the third quarter valued at approximately $183,000. Institutional investors and hedge funds 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.