Fastly (NYSE:FSLY) had its price objective lowered by stock analysts at Craig Hallum from $100.00 to $85.00 in a research report issued on Friday, The Fly reports. The brokerage presently has a “hold” rating on the stock. Craig Hallum’s price target would suggest a potential upside of 0.39% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Zacks Investment Research raised Fastly from a “sell” rating to a “hold” rating in a report on Wednesday, October 7th. Stifel Nicolaus downgraded Fastly from a “buy” rating to a “hold” rating and lowered their price target for the company from $98.00 to $77.00 in a report on Thursday. BofA Securities downgraded Fastly from a “buy” rating to an “underperform” rating in a report on Friday, July 10th. Citigroup downgraded Fastly from a “neutral” rating to a “sell” rating in a report on Thursday, July 9th. Finally, FBN Securities initiated coverage on Fastly in a report on Wednesday, August 19th. They issued an “outperform” rating and a $90.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $71.77.

Shares of Fastly stock opened at $84.67 on Friday. Fastly has a one year low of $10.63 and a one year high of $136.50. The company has a market cap of $7.65 billion, a PE ratio of -153.95 and a beta of 0.94. The company has a debt-to-equity ratio of 0.05, a quick ratio of 13.72 and a current ratio of 13.72. The business has a 50-day simple moving average of $94.05 and a 200-day simple moving average of $65.42.

Fastly (NYSE:FSLY) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.02 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.09. Fastly had a negative return on equity of 16.02% and a negative net margin of 21.39%. The business had revenue of $74.66 million during the quarter, compared to the consensus estimate of $71.65 million. On average, sell-side analysts predict that Fastly will post -0.48 earnings per share for the current fiscal year.

In other Fastly news, insider Artur Bergman sold 92,308 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $79.09, for a total value of $7,300,639.72. Following the completion of the transaction, the insider now owns 571,650 shares in the company, valued at $45,211,798.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Paul Luongo sold 2,083 shares of the stock in a transaction on Friday, July 24th. The stock was sold at an average price of $78.45, for a total value of $163,411.35. Following the completion of the transaction, the general counsel now owns 308,537 shares of the company’s stock, valued at approximately $24,204,727.65. The disclosure for this sale can be found here. Insiders sold 2,015,786 shares of company stock valued at $173,814,004 in the last quarter. 24.33% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the company. State Street Corp grew its position in shares of Fastly by 205.7% in the 1st quarter. State Street Corp now owns 54,000 shares of the company’s stock worth $1,025,000 after acquiring an additional 36,335 shares in the last quarter. Parametric Portfolio Associates LLC grew its holdings in shares of Fastly by 62.9% during the first quarter. Parametric Portfolio Associates LLC now owns 125,577 shares of the company’s stock valued at $2,383,000 after buying an additional 48,481 shares in the last quarter. Legal & General Group Plc acquired a new stake in Fastly in the 1st quarter worth approximately $49,000. Wellington Management Group LLP bought a new position in shares of Fastly in the first quarter worth about $313,000. Finally, Geode Capital Management LLC increased its stake in Fastly by 0.3% during the first quarter. Geode Capital Management LLC now owns 102,946 shares of the company’s stock valued at $1,953,000 after acquiring an additional 292 shares during the period. Institutional investors own 61.15% of the company’s stock.

About Fastly

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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