Fastly, Inc. (NYSE:FSLY) Receives $13.69 Consensus PT from Brokerages

Fastly, Inc. (NYSE:FSLY) has been given a consensus recommendation of “Hold” by the seven brokerages that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $12.93.

FSLY has been the topic of several recent analyst reports. Piper Sandler dropped their price target on Fastly from $11.00 to $10.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Bank of America lowered Fastly from a “buy” rating to an “underperform” rating and dropped their price target for the company from $18.00 to $8.00 in a research note on Thursday, May 2nd. Royal Bank of Canada lowered their target price on Fastly from $18.00 to $9.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 2nd. DA Davidson lowered Fastly from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $24.00 to $8.50 in a research report on Thursday, May 2nd. Finally, Citigroup lowered their target price on Fastly from $15.00 to $10.00 and set a “neutral” rating on the stock in a research report on Thursday, May 9th.

Insider Activity at Fastly

In related news, CEO Todd Nightingale sold 65,447 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $8.84, for a total value of $578,551.48. Following the completion of the sale, the chief executive officer now directly owns 1,741,181 shares of the company’s stock, valued at approximately $15,392,040.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Fastly news, CFO Ronald W. Kisling sold 2,919 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $8.92, for a total value of $26,037.48. Following the completion of the transaction, the chief financial officer now owns 606,712 shares in the company, valued at approximately $5,411,871.04. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Todd Nightingale sold 65,447 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $8.84, for a total value of $578,551.48. Following the completion of the transaction, the chief executive officer now owns 1,741,181 shares of the company’s stock, valued at approximately $15,392,040.04. The disclosure for this sale can be found here. In the last three months, insiders sold 135,217 shares of company stock valued at $1,176,853. 6.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in FSLY. Allspring Global Investments Holdings LLC raised its holdings in shares of Fastly by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,242 shares of the company’s stock valued at $133,000 after acquiring an additional 863 shares in the last quarter. EntryPoint Capital LLC raised its holdings in shares of Fastly by 41.1% in the 1st quarter. EntryPoint Capital LLC now owns 5,644 shares of the company’s stock valued at $73,000 after acquiring an additional 1,643 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Fastly by 13.4% in the 1st quarter. Principal Financial Group Inc. now owns 16,063 shares of the company’s stock valued at $208,000 after acquiring an additional 1,897 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Fastly by 1,420.9% in the 4th quarter. Allworth Financial LP now owns 2,114 shares of the company’s stock valued at $38,000 after acquiring an additional 1,975 shares in the last quarter. Finally, CWM LLC raised its holdings in shares of Fastly by 10.5% in the 2nd quarter. CWM LLC now owns 22,266 shares of the company’s stock valued at $164,000 after acquiring an additional 2,121 shares in the last quarter. Institutional investors own 79.71% of the company’s stock.

Fastly Stock Performance

Shares of FSLY stock opened at $7.51 on Monday. The business’s 50 day simple moving average is $7.57 and its 200 day simple moving average is $11.92. Fastly has a one year low of $6.77 and a one year high of $25.87. The stock has a market capitalization of $1.03 billion, a PE ratio of -7.51 and a beta of 1.13. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.83 and a quick ratio of 3.83.

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.