Fastly, Inc. (NYSE:FSLY) Receives $8.55 Consensus PT from Brokerages

Shares of Fastly, Inc. (NYSE:FSLY) have been assigned a consensus rating of “Hold” from the ten brokerages that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $8.55.

FSLY has been the subject of a number of recent research reports. Piper Sandler lifted their target price 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 lifted their price objective on shares of Fastly from $6.00 to $7.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 7th. Raymond James downgraded shares of Fastly from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 1st. Robert W. Baird lifted their price target on shares of Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, DA Davidson increased their price objective on shares of Fastly from $5.50 to $7.50 and gave the stock a “neutral” rating in a research report on Thursday, November 7th.

Fastly Price Performance

FSLY stock opened at $9.44 on Thursday. Fastly has a 52 week low of $5.52 and a 52 week high of $25.87. The firm has a market capitalization of $1.32 billion, a P/E ratio of -8.66 and a beta of 1.27. The company has a fifty day simple moving average of $8.69 and a two-hundred day simple moving average of $7.61. 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 announced its quarterly 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 net margin of 27.47% and a negative return on equity of 13.24%. The firm 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 firm earned ($0.33) EPS. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. Analysts anticipate that Fastly will post -0.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Todd Nightingale sold 12,163 shares of Fastly stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $8.12, for a total value of $98,763.56. Following the completion of the sale, the chief executive officer now directly owns 1,588,810 shares in the company, valued at $12,901,137.20. The trade was a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CTO Artur Bergman sold 16,922 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $6.25, for a total transaction of $105,762.50. Following the completion of the sale, the chief technology officer now directly owns 6,138,900 shares of the company’s stock, valued at approximately $38,368,125. This trade represents a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 228,641 shares of company stock worth $1,841,418 in the last three months. Corporate insiders own 6.70% of the company’s stock.

Institutional Investors Weigh In On Fastly

Large investors have recently modified their holdings of the business. Point72 DIFC Ltd purchased a new position in Fastly during the second quarter valued at approximately $38,000. FMR LLC boosted its position in Fastly by 124.2% during the 3rd quarter. FMR LLC now owns 6,357 shares of the company’s stock valued at $48,000 after acquiring an additional 3,522 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in Fastly by 95.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 8,849 shares of the company’s stock valued at $65,000 after acquiring an additional 4,318 shares in the last quarter. Aigen Investment Management LP purchased a new position in shares of Fastly in the 3rd quarter valued at $89,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in shares of Fastly in the 2nd quarter worth $103,000. 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.