Fastly, Inc. (NYSE:FSLY) Receives $10.64 Consensus PT from Analysts

Fastly, Inc. (NYSE:FSLY) has been given a consensus rating of “Hold” by the nine brokerages that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $10.6429.

FSLY has been the topic of a number of analyst reports. Citigroup lowered their target price on shares of Fastly from $12.00 to $10.00 and set a “neutral” rating on the stock in a research note on Friday, January 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Fastly in a report on Wednesday, October 8th. Royal Bank Of Canada boosted their price objective on Fastly from $9.00 to $10.00 and gave the company a “sector perform” rating in a research report on Monday, January 5th. Piper Sandler increased their target price on Fastly from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Monday, January 5th. Finally, Wall Street Zen raised Fastly from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th.

Fastly Stock Down 4.8%

NYSE FSLY opened at $8.79 on Friday. The stock’s 50-day moving average price is $10.16 and its 200-day moving average price is $8.96. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. Fastly has a 52 week low of $4.65 and a 52 week high of $12.59. The company has a market capitalization of $1.31 billion, a P/E ratio of -9.16 and a beta of 0.98.

Fastly (NYSE:FSLY) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.06. Fastly had a negative return on equity of 12.02% and a negative net margin of 23.49%.The company had revenue of $158.22 million during the quarter, compared to the consensus estimate of $151.04 million. During the same period in the previous year, the company posted $0.02 EPS. The firm’s revenue was up 15.3% on a year-over-year basis. On average, equities research analysts predict that Fastly will post -0.78 earnings per share for the current year.

Insider Buying and Selling at Fastly

In related news, CTO Artur Bergman sold 220,000 shares of the company’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $10.67, for a total transaction of $2,347,400.00. Following the completion of the transaction, the chief technology officer owned 3,121,276 shares in the company, valued at approximately $33,304,014.92. This represents a 6.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Scott R. Lovett sold 42,118 shares of Fastly stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $10.10, for a total transaction of $425,391.80. Following the completion of the sale, the insider owned 1,002,137 shares in the company, valued at approximately $10,121,583.70. This represents a 4.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 929,248 shares of company stock worth $9,793,149 in the last three months. Insiders own 6.70% of the company’s stock.

Institutional Investors Weigh In On Fastly

Large investors have recently made changes to their positions in the company. Los Angeles Capital Management LLC purchased a new stake in shares of Fastly during the 2nd quarter worth approximately $171,000. Hussman Strategic Advisors Inc. bought a new stake in Fastly in the second quarter worth $741,000. Knights of Columbus Asset Advisors LLC purchased a new stake in Fastly during the third quarter valued at $1,002,000. Geode Capital Management LLC lifted its position in Fastly by 6.3% during the second quarter. Geode Capital Management LLC now owns 3,212,253 shares of the company’s stock valued at $22,681,000 after purchasing an additional 189,423 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Fastly in the 2nd quarter worth $557,000. 79.71% of the stock is owned by institutional investors.

About Fastly

Fastly, Inc operates an edge cloud platform designed to accelerate, secure and enable modern digital experiences. The company offers a suite of services including a content delivery network (CDN), edge compute, load balancing, web application firewall (WAF) and DDoS protection. Fastly’s real-time architecture allows customers to seamlessly deploy software logic at the network edge, reducing latency by bringing applications and content closer to end users.

Founded in 2011 by Artur Bergman, Fastly has evolved from a pure-play CDN provider into a comprehensive edge cloud platform.