Analysts Set Fastly, Inc. (NYSE:FSLY) Price Target at $7.81

Shares of Fastly, Inc. (NYSE:FSLY) have been given a consensus rating of “Reduce” by the nine research firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation and eight have assigned a hold recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $7.94.

A number of brokerages recently issued reports on FSLY. Piper Sandler boosted their price objective on Fastly from $6.00 to $8.00 and gave the company a “neutral” rating in a research note on Thursday. Morgan Stanley lowered their price objective on Fastly from $12.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 27th. Raymond James cut Fastly from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 1st. Royal Bank of Canada boosted their price objective on Fastly from $6.00 to $7.00 and gave the company a “sector perform” rating in a research note on Thursday. Finally, Robert W. Baird upped their price target on Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Thursday.

Fastly Price Performance

Shares of NYSE:FSLY opened at $7.67 on Wednesday. The company’s 50-day moving average is $7.09 and its 200 day moving average is $7.61. 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 company has a market capitalization of $1.06 billion, a P/E ratio of -6.18 and a beta of 1.24. Fastly has a fifty-two week low of $5.52 and a fifty-two week high of $25.87.

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

Insider Buying and Selling

In related news, CTO Artur Bergman sold 16,748 shares of the company’s 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 transaction, the chief technology officer now directly owns 6,225,980 shares in the company, valued at approximately $38,476,556.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CTO Artur Bergman sold 16,748 shares of the company’s 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 transaction, the chief technology officer now directly owns 6,225,980 shares in the company, valued at approximately $38,476,556.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ronald W. Kisling sold 7,449 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $7.24, for a total transaction of $53,930.76. Following the completion of the transaction, the chief financial officer now owns 558,564 shares in the company, valued at approximately $4,044,003.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 192,628 shares of company stock worth $1,287,959. Insiders own 6.70% of the company’s stock.

Institutional Trading of Fastly

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted 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 worth $176,152,000 after buying an additional 657,334 shares in the last quarter. Jennison Associates LLC purchased a new stake in Fastly in the first quarter worth approximately $13,724,000. CANADA LIFE ASSURANCE Co boosted its stake in 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. Point72 Asset Management L.P. boosted its stake in Fastly by 461.5% in the second quarter. Point72 Asset Management L.P. now owns 756,380 shares of the company’s stock worth $5,575,000 after buying an additional 621,680 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in Fastly by 11.6% in the first quarter. BNP Paribas Financial Markets now owns 305,797 shares of the company’s stock worth $3,966,000 after buying an additional 31,749 shares in the last quarter. Hedge funds and other institutional investors own 79.71% of the company’s stock.

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.