Fastly (NYSE:FSLY) Trading Up 5.2% – Should You Buy?

Fastly, Inc. (NYSE:FSLY)’s share price rose 5.2% during trading on Thursday . The stock traded as high as $6.83 and last traded at $6.82. Approximately 377,660 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 3,513,754 shares. The stock had previously closed at $6.48.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FSLY. Craig Hallum lifted their target price on shares of Fastly from $6.00 to $8.00 and gave the company a “hold” rating in a report on Thursday, November 7th. Morgan Stanley decreased their price objective on shares of Fastly from $12.00 to $7.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 27th. DA Davidson raised their target price on Fastly from $5.50 to $7.50 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Royal Bank of Canada upped their price target on Fastly from $6.00 to $7.00 and gave the stock a “sector perform” rating in a report on Thursday, November 7th. Finally, Robert W. Baird raised their price objective on Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat, Fastly has an average rating of “Hold” and a consensus price target of $7.94.

Fastly Price Performance

The company has a debt-to-equity ratio of 0.36, a current ratio of 3.97 and a quick ratio of 3.97. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of -7.24 and a beta of 1.24. The stock has a 50 day moving average price of $7.29 and a 200-day moving average price of $7.29.

Fastly (NYSE:FSLY) last announced its earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.08. The company had revenue of $137.21 million for the quarter, compared to analysts’ expectations of $131.86 million. Fastly had a negative net margin of 27.47% and a negative return on equity of 13.24%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.33) EPS. On average, analysts forecast that Fastly, Inc. will post -0.86 earnings per share for the current year.

Insider Buying and Selling at Fastly

In other Fastly news, CEO Todd Nightingale sold 49,816 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $6.25, for a total value of $311,350.00. Following the completion of the sale, the chief executive officer now directly owns 1,600,973 shares in the company, valued at $10,006,081.25. This represents a 3.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Artur Bergman sold 49,178 shares of Fastly stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $8.07, for a total value of $396,866.46. Following the transaction, the chief technology officer now owns 6,155,822 shares in the company, valued at approximately $49,677,483.54. This represents a 0.79 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 160,548 shares of company stock worth $1,094,142. Insiders own 6.70% of the company’s stock.

Hedge Funds Weigh In On Fastly

Institutional investors and hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC raised its position in shares of Fastly by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 3,015,455 shares of the company’s stock valued at $22,831,000 after buying an additional 46,951 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in Fastly in the third quarter valued at $183,000. XTX Topco Ltd acquired a new position in shares of Fastly in the 3rd quarter valued at $400,000. Zacks Investment Management purchased a new position in shares of Fastly during the 3rd quarter worth $914,000. Finally, Quadrature Capital Ltd grew its holdings in shares of Fastly by 84.2% during the 3rd quarter. Quadrature Capital Ltd now owns 112,085 shares of the company’s stock worth $848,000 after purchasing an additional 51,224 shares during the period. 79.71% of the stock is currently owned by institutional investors and hedge funds.

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.