Fastly, Inc. (NYSE:FSLY) Receives $7.81 Consensus PT from Analysts

Shares of Fastly, Inc. (NYSE:FSLY) have been assigned a consensus recommendation of “Reduce” from the eight analysts that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $7.81.

Several brokerages have recently commented on FSLY. Raymond James downgraded Fastly from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 1st. Morgan Stanley decreased their price objective on shares of 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 target price on shares of Fastly from $10.00 to $6.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Finally, Piper Sandler lowered shares of Fastly from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $10.00 to $6.00 in a research note on Thursday, August 8th.

Fastly Stock Performance

Shares of FSLY stock opened at $7.31 on Friday. The company’s fifty day simple moving average is $6.72 and its 200-day simple moving average is $8.19. The company has a quick ratio of 4.13, a current ratio of 4.13 and a debt-to-equity ratio of 0.35. Fastly has a 12 month low of $5.52 and a 12 month high of $25.87. The firm has a market cap of $998.82 million, a PE ratio of -7.31 and a beta of 1.22.

Fastly (NYSE:FSLY) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.01. The firm had revenue of $132.37 million for the quarter, compared to analyst estimates of $131.62 million. Fastly had a negative net margin of 31.02% and a negative return on equity of 15.22%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.32) earnings per share. Equities research analysts expect that Fastly will post -0.96 EPS for the current fiscal year.

Insider Activity

In related news, CFO Ronald W. Kisling sold 15,933 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $6.18, for a total transaction of $98,465.94. Following the transaction, the chief financial officer now directly owns 570,124 shares of the company’s stock, valued at approximately $3,523,366.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Fastly news, CEO Todd Nightingale sold 66,066 shares of Fastly stock in a transaction on Friday, August 16th. The stock was sold at an average price of $6.18, for a total value of $408,287.88. Following the completion of the transaction, the chief executive officer now directly owns 1,662,952 shares of the company’s stock, valued at $10,277,043.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Ronald W. Kisling sold 15,933 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 $98,465.94. Following the sale, the chief financial officer now owns 570,124 shares of the company’s stock, valued at approximately $3,523,366.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 143,450 shares of company stock valued at $891,093. 6.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. CANADA LIFE ASSURANCE Co increased its holdings in Fastly by 94.4% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 960,864 shares of the company’s stock valued at $12,453,000 after buying an additional 466,560 shares during the period. Vanguard Group Inc. increased its stake in Fastly by 5.1% in the first quarter. Vanguard Group Inc. now owns 13,581,524 shares of the company’s stock valued at $176,152,000 after acquiring an additional 657,334 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Fastly by 9.3% during the fourth 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 in the last quarter. Oppenheimer & Co. Inc. lifted its stake in Fastly by 52.1% during the first quarter. Oppenheimer & Co. Inc. now owns 51,212 shares of the company’s stock worth $664,000 after purchasing an additional 17,536 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new stake in shares of Fastly in the 4th quarter valued at $2,933,000. Institutional investors and hedge funds 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.