Fastly, Inc. (NYSE:FSLY) Given Average Rating of “Reduce” by Analysts

Fastly, Inc. (NYSE:FSLY) has been assigned a consensus recommendation of “Reduce” from the eight analysts that are currently 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 1-year price objective among analysts that have issued ratings on the stock in the last year is $7.81.

Several analysts have commented on FSLY shares. Raymond James lowered shares of Fastly from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. Craig Hallum lowered their target price on Fastly from $10.00 to $6.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Piper Sandler lowered Fastly from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $10.00 to $6.00 in a research report on Thursday, August 8th. Finally, Morgan Stanley decreased their price objective on Fastly from $12.00 to $7.00 and set an “equal weight” rating for the company in a report on Tuesday, August 27th.

Fastly Trading Up 1.9 %

FSLY opened at $7.38 on Friday. Fastly has a one year low of $5.52 and a one year high of $25.87. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.13 and a quick ratio of 4.13. The business has a 50 day simple moving average of $6.65 and a two-hundred day simple moving average of $8.42. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of -5.95 and a beta of 1.22.

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

Insider Activity at Fastly

In other news, CTO Artur Bergman sold 16,748 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $6.18, for a total transaction of $103,502.64. Following the completion of the transaction, the chief technology officer now directly owns 6,225,980 shares in the company, valued at $38,476,556.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CTO Artur Bergman sold 16,748 shares of the firm’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 transaction of $103,502.64. Following the completion of the sale, the chief technology officer now owns 6,225,980 shares of the company’s stock, valued at $38,476,556.40. This trade represents a 0.00 % decrease in their ownership of the stock. 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 that occurred 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 completion of the transaction, the chief financial officer now directly owns 570,124 shares in the company, valued at $3,523,366.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 143,450 shares of company stock valued at $903,011 in the last 90 days. Corporate insiders own 6.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FSLY. Jennison Associates LLC purchased a new stake in Fastly during the first quarter valued at $13,724,000. Vanguard Group Inc. grew its stake in shares of Fastly by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 13,581,524 shares of the company’s stock valued at $176,152,000 after purchasing an additional 657,334 shares during the period. Point72 Asset Management L.P. increased its position in shares of Fastly by 461.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 756,380 shares of the company’s stock valued at $5,575,000 after purchasing an additional 621,680 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in shares of Fastly by 94.4% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 960,864 shares of the company’s stock worth $12,453,000 after purchasing an additional 466,560 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Fastly in the second quarter worth approximately $1,233,000. 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.