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

Fastly, Inc. (NYSE:FSLY) has been given a consensus rating of “Hold” by the ten research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $8.55.

Several research analysts recently commented on FSLY shares. Piper Sandler reiterated a “neutral” rating and issued a $9.00 price target (down previously from $10.00) on shares of Fastly in a research note on Thursday, February 13th. Craig Hallum lifted their price objective on shares of Fastly from $6.00 to $8.00 and gave the company a “hold” rating in a research report on Thursday, November 7th. DA Davidson boosted their target price on shares of Fastly from $5.50 to $7.50 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Citigroup raised their price target on shares of Fastly from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. Finally, Royal Bank of Canada cut their target price on Fastly from $10.00 to $8.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 13th.

Insider Buying and Selling at Fastly

In other Fastly news, CTO Artur Bergman sold 10,000 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $10.58, for a total value of $105,800.00. Following the transaction, the chief technology officer now directly owns 3,364,136 shares in the company, valued at $35,592,558.88. The trade was a 0.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Todd Nightingale sold 12,163 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $8.12, for a total transaction of $98,763.56. Following the sale, the chief executive officer now directly owns 1,588,810 shares in the company, valued at $12,901,137.20. This represents a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 177,312 shares of company stock worth $1,770,133 over the last ninety days. Company insiders own 6.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company raised its position in Fastly by 3.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 68,301 shares of the company’s stock valued at $503,000 after purchasing an additional 2,128 shares during the last quarter. Blue Trust Inc. boosted its stake in Fastly by 15.2% during the 3rd quarter. Blue Trust Inc. now owns 17,420 shares of the company’s stock worth $128,000 after acquiring an additional 2,296 shares during the last quarter. Wealth Effects LLC raised its holdings in Fastly by 86.9% in the third quarter. Wealth Effects LLC now owns 23,651 shares of the company’s stock worth $179,000 after purchasing an additional 11,000 shares during the period. International Assets Investment Management LLC boosted its position in shares of Fastly by 308.0% during the third quarter. International Assets Investment Management LLC now owns 76,101 shares of the company’s stock worth $5,760,000 after purchasing an additional 57,448 shares in the last quarter. Finally, Entropy Technologies LP grew its holdings in shares of Fastly by 118.7% in the 3rd quarter. Entropy Technologies LP now owns 39,803 shares of the company’s stock valued at $301,000 after buying an additional 21,600 shares during the period. 79.71% of the stock is owned by institutional investors and hedge funds.

Fastly Stock Up 1.5 %

NYSE FSLY opened at $8.19 on Friday. The stock has a market cap of $1.15 billion, a PE ratio of -7.51 and a beta of 1.26. The business has a 50 day moving average price of $9.87 and a two-hundred day moving average price of $8.12. Fastly has a fifty-two week low of $5.52 and a fifty-two week high of $15.80. 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 earnings results on Wednesday, February 12th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.22). Fastly had a negative net margin of 27.47% and a negative return on equity of 13.24%. As a group, sell-side analysts predict that Fastly will post -0.86 EPS 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.