Fastly, Inc. (NYSE:FSLY) Receives Average Recommendation of “Hold” from Brokerages

Shares of Fastly, Inc. (NYSE:FSLY) have been given a consensus recommendation of “Hold” by the ten ratings firms that are covering the company, Marketbeat Ratings reports. One 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. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $8.85.

A number of analysts recently weighed in on FSLY shares. DA Davidson increased their price objective on Fastly from $5.50 to $7.50 and gave the company a “neutral” rating in a report on Thursday, November 7th. Craig Hallum upped their price objective on shares of Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a report on Thursday, November 7th. Robert W. Baird raised their price target on shares of Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Piper Sandler raised their price objective on shares of Fastly from $8.00 to $10.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Finally, Oppenheimer raised shares of 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.

Insiders Place Their Bets

In related 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 sale, the chief executive officer now directly owns 1,600,973 shares of the company’s stock, valued at $10,006,081.25. This represents a 3.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Artur Bergman sold 3,400 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $12.01, for a total value of $40,834.00. Following the transaction, the chief technology officer now directly owns 3,444,136 shares of the company’s stock, valued at $41,364,073.36. This represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 241,741 shares of company stock worth $1,993,300 over the last three months. Company insiders own 6.70% of the company’s stock.

Institutional Trading of Fastly

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Point72 DIFC Ltd purchased a new position in Fastly during the 2nd quarter valued at about $38,000. FMR LLC increased its stake in shares of Fastly by 124.2% during the third quarter. FMR LLC now owns 6,357 shares of the company’s stock valued at $48,000 after purchasing an additional 3,522 shares in the last quarter. Aigen Investment Management LP purchased a new stake in shares of Fastly in the 3rd quarter worth approximately $89,000. Lombard Odier Asset Management USA Corp purchased a new stake in shares of Fastly in the 2nd quarter worth approximately $114,000. Finally, Blue Trust Inc. increased its position in Fastly by 15.2% during the 3rd quarter. Blue Trust Inc. now owns 17,420 shares of the company’s stock valued at $128,000 after buying an additional 2,296 shares in the last quarter. 79.71% of the stock is owned by hedge funds and other institutional investors.

Fastly Stock Performance

NYSE:FSLY opened at $9.31 on Monday. The company has a quick ratio of 3.97, a current ratio of 3.97 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $1.31 billion, a PE ratio of -8.54 and a beta of 1.24. Fastly has a twelve month low of $5.52 and a twelve month high of $25.87. The stock’s 50-day simple moving average is $9.14 and its 200 day simple moving average is $7.79.

Fastly (NYSE:FSLY) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.08. Fastly had a negative net margin of 27.47% and a negative return on equity of 13.24%. The business had revenue of $137.21 million during the quarter, compared to analysts’ expectations of $131.86 million. During the same period in the prior year, the company earned ($0.33) EPS. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, analysts anticipate that Fastly will post -0.86 EPS for the current fiscal 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.