Fastly, Inc. (NYSE:FSLY) Given Average Rating of “Hold” by Brokerages

Shares of Fastly, Inc. (NYSE:FSLY) have been given an average recommendation of “Hold” by the ten brokerages that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $8.85.

FSLY has been the topic of several recent analyst reports. Raymond James lowered shares of Fastly from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 1st. Craig Hallum upped their price target on Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a report on Thursday, November 7th. Piper Sandler lifted their price objective on Fastly from $8.00 to $10.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Royal Bank of Canada upped their target price on Fastly from $7.00 to $10.00 and gave the company a “sector perform” rating in a report on Friday, January 3rd. Finally, Robert W. Baird raised their price target on Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th.

Fastly Stock Down 1.8 %

FSLY opened at $10.26 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.97 and a quick ratio of 3.97. Fastly has a 12 month low of $5.52 and a 12 month high of $25.87. The stock has a market capitalization of $1.44 billion, a P/E ratio of -9.41 and a beta of 1.24. The business has a 50 day simple moving average of $9.43 and a 200-day simple moving average of $7.88.

Fastly (NYSE:FSLY) last released its earnings results on Wednesday, November 6th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.08. Fastly had a negative return on equity of 13.24% and a negative net margin of 27.47%. The company had revenue of $137.21 million during the quarter, compared to the consensus estimate of $131.86 million. During the same quarter last year, the company earned ($0.33) earnings per share. Fastly’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, equities analysts anticipate that Fastly will post -0.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Fastly news, CEO Todd Nightingale sold 49,816 shares of the business’s stock in a transaction 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. The trade was a 3.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Artur Bergman sold 3,400 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $12.01, for a total value of $40,834.00. Following the transaction, the chief technology officer now directly owns 3,444,136 shares in the company, valued at approximately $41,364,073.36. This represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 247,779 shares of company stock worth $2,050,359. 6.70% of the stock is owned by corporate insiders.

Institutional Trading of Fastly

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of Montreal Can boosted its position in shares of Fastly by 11,140.2% in the third quarter. Bank of Montreal Can now owns 1,305,101 shares of the company’s stock worth $9,867,000 after acquiring an additional 1,293,490 shares during the last quarter. Quadrature Capital Ltd raised its stake in Fastly by 84.2% during the third quarter. Quadrature Capital Ltd now owns 112,085 shares of the company’s stock worth $848,000 after purchasing an additional 51,224 shares during the period. Penserra Capital Management LLC boosted its holdings in shares of Fastly by 18.8% in the 3rd quarter. Penserra Capital Management LLC now owns 5,075,127 shares of the company’s stock valued at $38,418,000 after purchasing an additional 801,968 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Fastly during the 3rd quarter valued at $400,000. Finally, Zacks Investment Management acquired a new stake in shares of Fastly during the 3rd quarter worth $914,000. 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.