Fastly (NYSE:FSLY – Free Report) had its target price lifted by Royal Bank of Canada from $7.00 to $10.00 in a research note published on Friday morning,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the stock.
A number of other equities analysts have also recently issued reports on FSLY. Craig Hallum raised their price objective on shares of Fastly from $6.00 to $8.00 and gave the company a “hold” rating in a research note on Thursday, November 7th. Robert W. Baird increased their price target on Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Piper Sandler lifted their price objective on Fastly from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Oppenheimer raised Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 target price on the stock in a research note on Monday, December 2nd. Finally, Raymond James cut Fastly from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $8.85.
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Fastly Trading Up 3.7 %
Fastly (NYSE:FSLY – Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.08. The firm had revenue of $137.21 million during the quarter, compared to analysts’ expectations of $131.86 million. Fastly had a negative return on equity of 13.24% and a negative net margin of 27.47%. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.33) EPS. As a group, equities research analysts expect that Fastly will post -0.86 EPS for the current year.
Insiders Place Their Bets
In related news, CFO Ronald W. Kisling sold 16,102 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $6.25, for a total value of $100,637.50. Following the sale, the chief financial officer now directly owns 542,462 shares of the company’s stock, valued at approximately $3,390,387.50. The trade was a 2.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Artur Bergman sold 49,178 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $8.07, for a total transaction of $396,866.46. Following the completion of the transaction, the chief technology officer now directly owns 6,155,822 shares of the company’s stock, valued at approximately $49,677,483.54. The trade was a 0.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 228,641 shares of company stock worth $1,841,418 over the last ninety days. 6.70% of the stock is currently owned by corporate insiders.
Institutional Trading of Fastly
Institutional investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company grew its holdings in shares of Fastly by 3.2% during the second quarter. The Manufacturers Life Insurance Company now owns 68,301 shares of the company’s stock worth $503,000 after buying an additional 2,128 shares in the last quarter. Blue Trust Inc. grew its stake in shares of 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Fastly by 11.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,130 shares of the company’s stock valued at $222,000 after purchasing an additional 3,124 shares during the last quarter. Arizona State Retirement System lifted its position in shares of Fastly by 10.3% in the second quarter. Arizona State Retirement System now owns 35,690 shares of the company’s stock worth $263,000 after purchasing an additional 3,338 shares in the last quarter. Finally, FMR LLC boosted its holdings in Fastly by 124.2% during the third quarter. FMR LLC now owns 6,357 shares of the company’s stock worth $48,000 after purchasing an additional 3,522 shares during the last quarter. 79.71% of the stock is currently owned by institutional investors.
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.
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