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

Shares of Fastly, Inc. (NYSE:FSLY) have received a consensus recommendation of “Hold” from the eight brokerages that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $7.81.

FSLY has been the topic of several research analyst reports. Piper Sandler cut Fastly from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $10.00 to $6.00 in a report on Thursday, August 8th. Morgan Stanley lowered their target price on Fastly from $12.00 to $7.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 27th. Craig Hallum cut their price target on Fastly from $10.00 to $6.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Finally, Raymond James reduced their price target on shares of Fastly from $13.00 to $8.00 and set a “strong-buy” rating for the company in a research report on Thursday, August 8th.

Fastly Price Performance

Shares of NYSE:FSLY opened at $7.23 on Tuesday. The business has a 50-day simple moving average of $6.79 and a two-hundred day simple moving average of $8.95. The company has a debt-to-equity ratio of 0.35, a quick ratio of 4.13 and a current ratio of 4.13. The firm has a market cap of $987.89 million, a price-to-earnings ratio of -7.23 and a beta of 1.20. Fastly has a fifty-two week low of $5.52 and a fifty-two week high of $25.87.

Fastly (NYSE:FSLY) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.01. Fastly had a negative net margin of 31.02% and a negative return on equity of 15.22%. The firm had revenue of $132.37 million during the quarter, compared to analysts’ expectations of $131.62 million. During the same period in the previous year, the company earned ($0.32) earnings per share. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. On average, analysts expect that Fastly will post -0.96 earnings per share for the current year.

Insider Transactions at Fastly

In related news, CTO Artur Bergman sold 16,748 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $6.18, for a total value of $103,502.64. Following the completion of the sale, the chief technology officer now directly owns 6,225,980 shares of the company’s stock, valued at approximately $38,476,556.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CTO Artur Bergman sold 16,748 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $6.18, for a total value of $103,502.64. Following the completion of the transaction, the chief technology officer now owns 6,225,980 shares of the company’s stock, valued at approximately $38,476,556.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Ronald W. Kisling sold 12,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $7.27, for a total value of $87,240.00. Following the sale, the chief financial officer now directly owns 593,506 shares in the company, valued at $4,314,788.62. The disclosure for this sale can be found here. Insiders have sold 155,450 shares of company stock valued at $990,251 over the last quarter. 6.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Fastly by 94.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 960,864 shares of the company’s stock worth $12,453,000 after buying an additional 466,560 shares in the last quarter. Vanguard Group Inc. lifted its stake in Fastly by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 13,581,524 shares of the company’s stock worth $176,152,000 after purchasing an additional 657,334 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Fastly by 9.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,906,860 shares of the company’s stock valued at $33,942,000 after purchasing an additional 162,659 shares during the last quarter. Oppenheimer & Co. Inc. grew its position in shares of Fastly by 52.1% during the first quarter. Oppenheimer & Co. Inc. now owns 51,212 shares of the company’s stock valued at $664,000 after purchasing an additional 17,536 shares in the last quarter. Finally, Wellington Management Group LLP bought a new stake in shares of Fastly in the fourth quarter worth about $2,933,000. 79.71% of the stock is currently owned by institutional investors.

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.