Fastly (NYSE:FSLY) Stock Price Up 5.6% – Still a Buy?

Shares of Fastly, Inc. (NYSE:FSLY) rose 5.6% on Monday . The stock traded as high as $7.20 and last traded at $7.24. Approximately 264,466 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 3,138,305 shares. The stock had previously closed at $6.85.

Wall Street Analysts Forecast Growth

FSLY has been the topic of a number of research analyst reports. Citigroup increased their price target on Fastly from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. Piper Sandler reiterated a “neutral” rating and set a $9.00 price objective (down previously 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 target price for the company in a research note on Monday, December 2nd. Finally, Royal Bank of Canada lowered their target price on Fastly from $10.00 to $8.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Fastly currently has an average rating of “Hold” and a consensus target price of $8.55.

Fastly Stock Down 2.5 %

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 company has a market capitalization of $1.01 billion, a PE ratio of -6.20 and a beta of 1.31. The stock’s fifty day moving average is $8.56 and its two-hundred day moving average is $8.21.

Fastly (NYSE:FSLY) last posted 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 return on equity of 12.75% and a negative net margin of 29.07%. As a group, analysts predict that Fastly, Inc. will post -0.78 EPS for the current year.

Insider Activity

In other Fastly news, CTO Artur Bergman sold 10,000 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $10.09, for a total transaction of $100,900.00. Following the sale, the chief technology officer now owns 3,434,136 shares of the company’s stock, valued at $34,650,432.24. The trade was a 0.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Todd Nightingale sold 8,595 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $6.87, for a total value of $59,047.65. Following the completion of the transaction, the chief executive officer now directly owns 1,544,706 shares of the company’s stock, valued at $10,612,130.22. The trade was a 0.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 173,699 shares of company stock valued at $1,587,050 in the last 90 days. Insiders own 6.70% of the company’s stock.

Institutional Investors Weigh In On Fastly

Several hedge funds and other institutional investors have recently modified their holdings of the stock. AlphaQuest LLC boosted its position 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 during the period. FMR LLC lifted its stake in Fastly by 124.2% in the 3rd quarter. FMR LLC now owns 6,357 shares of the company’s stock worth $48,000 after purchasing an additional 3,522 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in Fastly by 128.9% in the 4th quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company’s stock valued at $54,000 after purchasing an additional 3,221 shares during the period. Wealthfront Advisers LLC purchased a new position in shares of Fastly during the 4th quarter valued at $72,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of Fastly in the fourth quarter worth $82,000. 79.71% of the stock is currently owned by institutional investors.

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.