Investment Analysts’ Weekly Ratings Updates for Fastly (FSLY)

Fastly (NYSE: FSLY) recently received a number of ratings updates from brokerages and research firms:

  • 10/16/2019 – Fastly was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Fastly Inc. provides infrastructure software. The Company offers cloud computing, image optimization, security, edge computer technology and streaming solutions. Fastly Inc. is based in San Francisco, United States. “
  • 10/15/2019 – Fastly was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 10/11/2019 – Fastly was downgraded by analysts at Piper Jaffray Companies from an “overweight” rating to a “neutral” rating. They now have a $24.00 price target on the stock, up previously from $21.00.
  • 10/10/2019 – Fastly was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Fastly Inc. provides infrastructure software. The Company offers cloud computing, image optimization, security, edge computer technology and streaming solutions. Fastly Inc. is based in San Francisco, United States. “

Shares of FSLY traded up $0.53 during mid-day trading on Thursday, reaching $22.85. The company’s stock had a trading volume of 219,576 shares, compared to its average volume of 1,017,907. Fastly Inc has a 1-year low of $14.12 and a 1-year high of $35.25. The business’s 50-day moving average price is $26.93.

Fastly (NYSE:FSLY) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.16) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.03). The company had revenue of $46.17 million during the quarter, compared to analyst estimates of $45.31 million. The company’s revenue was up 34.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.20) earnings per share. As a group, analysts forecast that Fastly Inc will post -0.58 earnings per share for the current year.

In related news, major shareholder Qualified Master Fund L. Abdiel acquired 849,413 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was purchased at an average cost of $17.40 per share, with a total value of $14,779,786.20. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Qualified Master Fund L. Abdiel acquired 120,863 shares of the company’s stock in a transaction on Monday, August 5th. The stock was bought at an average cost of $19.53 per share, with a total value of $2,360,454.39. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 1,367,517 shares of company stock valued at $25,798,808.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Ladenburg Thalmann Financial Services Inc. acquired a new position in Fastly in the 2nd quarter valued at $41,000. Amundi Pioneer Asset Management Inc. acquired a new position in Fastly in the 2nd quarter valued at $203,000. Waddell & Reed Financial Inc. acquired a new position in Fastly in the 2nd quarter valued at $22,879,000. Whale Rock Capital Management LLC acquired a new position in Fastly in the 2nd quarter valued at $6,083,000. Finally, Zimmer Partners LP acquired a new position in Fastly in the 2nd quarter valued at $1,318,000. 14.14% of the stock is owned by hedge funds and other institutional investors.

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