Fastly, Inc. (NYSE:FSLY) has been assigned a consensus recommendation of “Hold” from the sixteen brokerages that are covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $79.27.

FSLY has been the subject of a number of recent research reports. Zacks Investment Research upgraded Fastly from a “sell” rating to a “hold” rating in a research report on Tuesday, December 29th. Bank of America lowered their target price on Fastly from $90.00 to $75.00 and set an “underperform” rating for the company in a research note on Thursday, October 29th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell restated a “sell” rating and set a $58.00 price target on shares of Fastly in a research report on Friday, October 16th. Piper Sandler downgraded Fastly from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $84.00 to $65.00 in a research report on Friday, October 23rd. Finally, Craig Hallum dropped their price objective on Fastly from $85.00 to $80.00 and set a “hold” rating for the company in a research note on Thursday, October 29th.

NYSE:FSLY traded up $0.97 during midday trading on Wednesday, hitting $90.59. The company had a trading volume of 2,638,350 shares, compared to its average volume of 3,633,684. The company has a market capitalization of $9.28 billion, a PE ratio of -141.55 and a beta of 1.38. The company has a quick ratio of 7.97, a current ratio of 7.97 and a debt-to-equity ratio of 0.05. Fastly has a 52-week low of $10.63 and a 52-week high of $136.50. The stock’s fifty day moving average price is $90.90 and its 200-day moving average price is $86.96.

Fastly (NYSE:FSLY) last issued its quarterly earnings results on Wednesday, October 28th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.08. Fastly had a negative return on equity of 14.37% and a negative net margin of 24.07%. The firm had revenue of $70.64 million during the quarter, compared to analyst estimates of $70.59 million. As a group, research analysts forecast that Fastly will post -0.59 earnings per share for the current year.

In related news, CFO Adriel G. Lares sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $90.65, for a total transaction of $362,600.00. Following the completion of the transaction, the chief financial officer now owns 182,490 shares of the company’s stock, valued at approximately $16,542,718.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Paul Luongo sold 2,084 shares of Fastly stock in a transaction on Thursday, December 24th. The shares were sold at an average price of $99.39, for a total value of $207,128.76. Following the transaction, the general counsel now owns 255,175 shares of the company’s stock, valued at approximately $25,361,843.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 423,065 shares of company stock valued at $31,735,529. 24.33% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the company. Rockbridge Investment Management LCC boosted its stake in Fastly by 498.0% during the 3rd quarter. Rockbridge Investment Management LCC now owns 305 shares of the company’s stock valued at $29,000 after purchasing an additional 254 shares during the last quarter. Summit X LLC bought a new position in shares of Fastly during the third quarter valued at $38,000. Asset Dedication LLC purchased a new stake in shares of Fastly during the third quarter valued at $37,000. Sonora Investment Management LLC bought a new stake in Fastly in the 4th quarter worth about $35,000. Finally, Freestone Capital Holdings LLC purchased a new position in Fastly in the 3rd quarter worth about $40,000. Hedge funds and other institutional investors own 52.92% of the company’s stock.

Fastly Company Profile

Fastly, Inc operates an edge cloud platform for processing, serving, and securing its customer's applications. 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. It is a programmable platform designed for Web and application delivery.

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Analyst Recommendations for Fastly (NYSE:FSLY)

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