Fastly (NYSE:FSLY) PT Lowered to $15.00 at Citigroup

Fastly (NYSE:FSLY) had its target price cut by Citigroup from $20.00 to $15.00 in a report issued on Thursday, Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities analysts have also issued reports on FSLY. Royal Bank of Canada raised Fastly from an underperform rating to a sector perform rating and upped their target price for the company from $12.00 to $18.00 in a research report on Monday, January 8th. Bank of America cut their target price on Fastly from $28.00 to $18.00 and set a buy rating on the stock in a research report on Thursday, March 28th. Piper Sandler upgraded Fastly from a neutral rating to an overweight rating and lowered their price target for the company from $19.00 to $16.00 in a report on Monday, April 8th. Finally, Craig Hallum downgraded Fastly from a buy rating to a hold rating and set a $20.00 price target for the company. in a report on Thursday, February 15th. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $18.56.

Fastly Stock Up 4.4 %

Fastly stock opened at $12.95 on Thursday. The stock’s 50 day moving average price is $13.34 and its 200 day moving average price is $16.32. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.14 and a quick ratio of 3.14. Fastly has a one year low of $11.61 and a one year high of $25.87.

Fastly (NYSE:FSLY) last announced its earnings results on Wednesday, February 14th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.05. Fastly had a negative return on equity of 16.02% and a negative net margin of 26.30%. The company had revenue of $137.78 million for the quarter, compared to analyst estimates of $139.25 million. Research analysts forecast that Fastly will post -1.07 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Artur Bergman sold 3,327 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $13.93, for a total value of $46,345.11. Following the completion of the sale, the insider now owns 6,040,043 shares in the company, valued at $84,137,798.99. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Ronald W. Kisling sold 7,486 shares of the company’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $13.00, for a total transaction of $97,318.00. Following the transaction, the chief financial officer now directly owns 632,736 shares of the company’s stock, valued at $8,225,568. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Artur Bergman sold 3,327 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $13.93, for a total value of $46,345.11. Following the completion of the transaction, the insider now directly owns 6,040,043 shares in the company, valued at $84,137,798.99. The disclosure for this sale can be found here. Insiders sold a total of 221,076 shares of company stock worth $3,620,434 over the last 90 days. 7.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Hanseatic Management Services Inc. bought a new stake in Fastly during the 3rd quarter valued at approximately $33,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Fastly during the 3rd quarter worth approximately $36,000. Allworth Financial LP lifted its position in shares of Fastly by 1,420.9% during the 4th quarter. Allworth Financial LP now owns 2,114 shares of the company’s stock worth $38,000 after buying an additional 1,975 shares during the period. Hollencrest Capital Management acquired a new stake in Fastly during the 3rd quarter valued at $58,000. Finally, Strs Ohio acquired a new stake in Fastly during the 3rd quarter valued at $65,000. 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.