Fastly, Inc. (NYSE:FSLY) Receives $22.62 Consensus Target Price from Brokerages

Fastly, Inc. (NYSE:FSLY) has received an average recommendation of “Hold” from the eleven research firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $22.6250.

A number of analysts have recently commented on FSLY shares. Citigroup boosted their target price on shares of Fastly from $13.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Craig Hallum lowered shares of Fastly from a “buy” rating to a “hold” rating and set a $24.00 price target for the company. in a research note on Tuesday, April 14th. Raymond James Financial raised shares of Fastly from a “market perform” rating to an “outperform” rating and set a $23.00 price target for the company in a research report on Friday, May 8th. Evercore assumed coverage on shares of Fastly in a research note on Tuesday, April 14th. They set an “outperform” rating and a $24.00 price objective on the stock. Finally, Piper Sandler decreased their target price on shares of Fastly to $27.00 and set a “neutral” rating for the company in a research note on Thursday, May 7th.

Insider Buying and Selling

In other Fastly news, CTO Artur Bergman sold 7,889 shares of Fastly stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $20.96, for a total transaction of $165,353.44. Following the completion of the transaction, the chief technology officer owned 2,038,638 shares in the company, valued at approximately $42,729,852.48. The trade was a 0.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Charles Lacey Compton III sold 9,313 shares of the business’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $20.79, for a total value of $193,617.27. Following the completion of the sale, the chief executive officer directly owned 1,063,945 shares in the company, valued at $22,119,416.55. This trade represents a 0.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 304,062 shares of company stock valued at $5,482,012. 6.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Fastly

Several large investors have recently modified their holdings of FSLY. EverSource Wealth Advisors LLC boosted its stake in Fastly by 39.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,204 shares of the company’s stock worth $64,000 after purchasing an additional 627 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Fastly by 84.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,381 shares of the company’s stock valued at $40,000 after purchasing an additional 633 shares in the last quarter. Kestra Advisory Services LLC raised its holdings in Fastly by 8.4% in the fourth quarter. Kestra Advisory Services LLC now owns 11,970 shares of the company’s stock worth $122,000 after buying an additional 930 shares during the last quarter. Parallax Volatility Advisers L.P. raised its holdings in Fastly by 13.8% in the third quarter. Parallax Volatility Advisers L.P. now owns 12,095 shares of the company’s stock worth $103,000 after buying an additional 1,465 shares during the last quarter. Finally, Sound Income Strategies LLC bought a new position in shares of Fastly in the first quarter worth approximately $44,000. Hedge funds and other institutional investors own 79.71% of the company’s stock.

Fastly Stock Performance

FSLY opened at $18.13 on Monday. 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 $6.29 and a 52 week high of $34.82. The stock has a market cap of $2.84 billion, a PE ratio of -18.89 and a beta of 0.34. The business has a 50 day moving average of $19.42 and a 200-day moving average of $18.15.

Fastly Company Profile

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.