Fastly, Inc. (NYSE:FSLY) Receives $8.55 Average Price Target from Analysts

Fastly, Inc. (NYSE:FSLY) has received a consensus recommendation of “Hold” from the ten analysts that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $8.55.

FSLY has been the topic of a number of research reports. DA Davidson boosted their price target on Fastly from $5.50 to $7.50 and gave the company a “neutral” rating in a report on Thursday, November 7th. Robert W. Baird boosted their price target on Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Piper Sandler restated a “neutral” rating and issued a $9.00 price target (down from $10.00) on shares of Fastly in a report on Thursday, February 13th. Oppenheimer upgraded Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price target on the stock in a report on Monday, December 2nd. Finally, Royal Bank of Canada dropped their target price on Fastly from $10.00 to $8.00 and set a “sector perform” rating on the stock in a report on Thursday, February 13th.

Insiders Place Their Bets

In other Fastly news, CEO Todd Nightingale sold 12,163 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $8.12, for a total transaction of $98,763.56. Following the transaction, the chief executive officer now owns 1,588,810 shares of the company’s stock, valued at $12,901,137.20. The trade was a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Artur Bergman sold 29,641 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $10.02, for a total value of $297,002.82. Following the transaction, the chief technology officer now directly owns 6,058,595 shares in the company, valued at approximately $60,707,121.90. This trade represents a 0.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 177,312 shares of company stock valued at $1,770,133 over the last 90 days. 6.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Fastly

Several institutional investors and hedge funds have recently made changes to their positions in the company. 180 Wealth Advisors LLC boosted its stake in Fastly by 2.5% in the 4th quarter. 180 Wealth Advisors LLC now owns 68,643 shares of the company’s stock valued at $648,000 after purchasing an additional 1,695 shares during the period. The Manufacturers Life Insurance Company lifted 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. boosted its position in shares of Fastly by 15.2% in the third quarter. Blue Trust Inc. now owns 17,420 shares of the company’s stock valued at $128,000 after acquiring an additional 2,296 shares during the period. AlphaQuest LLC grew its stake in shares of Fastly by 169.1% in the fourth quarter. AlphaQuest LLC now owns 4,710 shares of the company’s stock valued at $44,000 after acquiring an additional 2,960 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Fastly by 1.6% in the fourth quarter. Rhumbline Advisers now owns 192,131 shares of the company’s stock valued at $1,814,000 after acquiring an additional 3,081 shares in the last quarter. Institutional investors and hedge funds own 79.71% of the company’s stock.

Fastly Stock Performance

FSLY stock opened at $7.83 on Friday. The business’s 50-day moving average price is $9.72 and its two-hundred day moving average price is $8.12. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.36. The firm has a market cap of $1.10 billion, a PE ratio of -6.86 and a beta of 1.26. Fastly has a 1-year low of $5.52 and a 1-year high of $15.03.

Fastly (NYSE:FSLY) last issued its quarterly earnings results on Wednesday, February 12th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.22). Fastly had a negative net margin of 29.07% and a negative return on equity of 12.75%. As a group, research analysts forecast that Fastly will post -0.78 earnings per share for the current year.

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.