Fastly, Inc. (NYSE:FSLY) Receives $7.81 Average PT from Analysts

Fastly, Inc. (NYSE:FSLY) has been assigned a consensus recommendation of “Hold” from the eight analysts that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $7.81.

A number of brokerages have recently commented on FSLY. Morgan Stanley lowered their price objective on Fastly from $12.00 to $7.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 27th. Piper Sandler cut Fastly from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $10.00 to $6.00 in a report on Thursday, August 8th. Craig Hallum cut their price objective on shares of Fastly from $10.00 to $6.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. Finally, Raymond James lowered their target price on shares of Fastly from $13.00 to $8.00 and set a “strong-buy” rating for the company in a report on Thursday, August 8th.

Insiders Place Their Bets

In other news, CEO Todd Nightingale sold 66,066 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $6.18, for a total value of $408,287.88. Following the transaction, the chief executive officer now owns 1,662,952 shares of the company’s stock, valued at approximately $10,277,043.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Fastly news, CFO Ronald W. Kisling sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $7.27, for a total value of $87,240.00. Following the completion of the transaction, the chief financial officer now owns 593,506 shares in the company, valued at approximately $4,314,788.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Todd Nightingale sold 66,066 shares of Fastly stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $6.18, for a total transaction of $408,287.88. Following the sale, the chief executive officer now owns 1,662,952 shares in the company, valued at approximately $10,277,043.36. The disclosure for this sale can be found here. Insiders sold a total of 155,450 shares of company stock worth $990,251 over the last ninety days. 6.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FSLY. CANADA LIFE ASSURANCE Co lifted its holdings in Fastly by 94.4% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 960,864 shares of the company’s stock worth $12,453,000 after buying an additional 466,560 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Fastly by 5.1% in the first quarter. Vanguard Group Inc. now owns 13,581,524 shares of the company’s stock valued at $176,152,000 after purchasing an additional 657,334 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Fastly by 9.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,906,860 shares of the company’s stock valued at $33,942,000 after purchasing an additional 162,659 shares during the last quarter. Oppenheimer & Co. Inc. grew its stake in Fastly by 52.1% during the 1st quarter. Oppenheimer & Co. Inc. now owns 51,212 shares of the company’s stock valued at $664,000 after purchasing an additional 17,536 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new stake in Fastly during the 4th quarter worth approximately $2,933,000. 79.71% of the stock is currently owned by hedge funds and other institutional investors.

Fastly Trading Up 0.7 %

Shares of FSLY stock opened at $7.28 on Tuesday. The company has a market capitalization of $994.72 million, a price-to-earnings ratio of -7.28 and a beta of 1.20. The company has a current ratio of 4.13, a quick ratio of 4.13 and a debt-to-equity ratio of 0.35. The firm has a 50-day moving average price of $6.78 and a 200 day moving average price of $8.88. Fastly has a twelve month low of $5.52 and a twelve month high of $25.87.

Fastly (NYSE:FSLY) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.01. Fastly had a negative net margin of 31.02% and a negative return on equity of 15.22%. The business had revenue of $132.37 million for the quarter, compared to the consensus estimate of $131.62 million. During the same quarter in the prior year, the firm posted ($0.32) earnings per share. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. Research analysts forecast that Fastly will post -0.96 earnings per share for the current fiscal year.

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.