Fastly, Inc. (NYSE:FSLY) Receives $79.27 Consensus Target Price from Analysts


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Fastly, Inc. (NYSE:FSLY) has been assigned an average recommendation of “Hold” from the sixteen research firms that are covering the stock, MarketBeat.com reports. Six investment 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 1-year price target among analysts that have covered the stock in the last year is $79.27.

FSLY has been the topic of several research reports. BidaskClub lowered shares of Fastly from a “hold” rating to a “sell” rating in a report on Thursday, January 7th. Credit Suisse Group cut shares of Fastly from an “outperform” rating to a “neutral” rating and set a $90.00 target price on the stock. in a research note on Wednesday, November 25th. Pritchard Capital dropped their price target on Fastly from $58.00 to $47.00 and set a “sell” rating for the company in a research note on Thursday, October 29th. DA Davidson cut their price objective on Fastly from $115.00 to $105.00 and set a “buy” rating on the stock in a report on Thursday, October 15th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell restated a “sell” rating and set a $58.00 price objective on shares of Fastly in a research report on Friday, October 16th.

Shares of FSLY stock traded up $0.97 during trading hours on Wednesday, reaching $90.59. The company’s stock had a trading volume of 2,638,350 shares, compared to its average volume of 3,633,684. Fastly has a fifty-two week low of $10.63 and a fifty-two week high of $136.50. The firm’s 50 day simple moving average is $90.90 and its 200-day simple moving average is $86.96. The company has a quick ratio of 7.97, a current ratio of 7.97 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $9.28 billion, a price-to-earnings ratio of -141.55 and a beta of 1.38.

Fastly (NYSE:FSLY) last released its quarterly earnings data on Wednesday, October 28th. The company reported ($0.04) earnings per share for the quarter, beating the 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 business had revenue of $70.64 million for the quarter, compared to analyst estimates of $70.59 million. Sell-side analysts predict that Fastly will post -0.59 earnings per share for the current year.

In other news, CEO Joshua Bixby sold 10,000 shares of the stock in a transaction on Friday, October 16th. The shares were sold at an average price of $85.39, for a total transaction of $853,900.00. Following the completion of the sale, the chief executive officer now directly owns 313,379 shares in the company, valued at $26,759,432.81. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Paul Luongo sold 2,083 shares of Fastly stock in a transaction on Friday, October 23rd. The stock was sold at an average price of $75.63, for a total transaction of $157,537.29. Following the transaction, the general counsel now directly owns 267,923 shares of the company’s stock, valued at approximately $20,263,016.49. The disclosure for this sale can be found here. Insiders have sold 423,065 shares of company stock valued at $31,735,529 over the last 90 days. 24.33% of the stock is owned by corporate insiders.

Several hedge funds have recently bought and sold shares of FSLY. State of Wisconsin Investment Board acquired a new stake in shares of Fastly during the 2nd quarter worth approximately $816,000. Bank of New York Mellon Corp grew its holdings in Fastly by 585.5% in the second quarter. Bank of New York Mellon Corp now owns 465,477 shares of the company’s stock worth $39,626,000 after purchasing an additional 397,571 shares during the period. American International Group Inc. bought a new stake in Fastly in the second quarter valued at $170,000. Skandinaviska Enskilda Banken AB publ bought a new stake in Fastly in the second quarter valued at $148,000. Finally, Federated Hermes Inc. acquired a new position in shares of Fastly during the second quarter valued at about $1,634,000. 52.92% of the stock is owned by hedge funds and other institutional investors.

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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