Fastly, Inc. (NYSE:FSLY) Receives Average Rating of “Hold” from Analysts

Shares of Fastly, Inc. (NYSE:FSLY) have been given an average rating of “Hold” by the ten analysts that are currently covering the firm, MarketBeat.com reports. Ten equities research analysts have rated the stock with a hold recommendation. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $8.28.

FSLY has been the topic of several research reports. Morgan Stanley upped their price objective on shares of Fastly from $7.00 to $8.00 and gave the company an “equal weight” rating in a research note on Thursday, May 8th. KeyCorp upgraded shares of Fastly to a “sector weight” rating in a research note on Thursday, June 5th. Oppenheimer initiated coverage on shares of Fastly in a research note on Thursday, March 20th. They issued a “market perform” rating on the stock. Piper Sandler upped their price objective on shares of Fastly from $6.00 to $7.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. Finally, Royal Bank Of Canada upped their price objective on shares of Fastly from $5.00 to $6.00 and gave the company a “sector perform” rating in a research note on Thursday, May 8th.

Insider Buying and Selling

In other Fastly news, CFO Ronald W. Kisling sold 5,342 shares of the stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $5.26, for a total value of $28,098.92. Following the completion of the sale, the chief financial officer now directly owns 665,693 shares of the company’s stock, valued at $3,501,545.18. This represents a 0.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO Scott R. Lovett sold 127,608 shares of the stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $6.95, for a total transaction of $886,875.60. Following the completion of the sale, the executive now directly owns 1,287,145 shares of the company’s stock, valued at approximately $8,945,657.75. This trade represents a 9.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 177,283 shares of company stock valued at $1,227,657. Company insiders own 6.70% of the company’s stock.

Institutional Trading of Fastly

A number of hedge funds have recently bought and sold shares of the stock. Acadian Asset Management LLC acquired a new position in shares of Fastly in the 1st quarter valued at $78,000. Geneos Wealth Management Inc. acquired a new position in shares of Fastly in the 1st quarter valued at $52,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Fastly by 25.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 330,878 shares of the company’s stock valued at $2,094,000 after buying an additional 67,754 shares in the last quarter. Caxton Associates LLP acquired a new position in shares of Fastly in the 1st quarter valued at $800,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of Fastly by 7.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,302,164 shares of the company’s stock valued at $14,573,000 after buying an additional 165,937 shares in the last quarter. 79.71% of the stock is owned by institutional investors.

Fastly Stock Up 0.1%

FSLY stock opened at $6.77 on Thursday. Fastly has a 52-week low of $4.65 and a 52-week high of $12.08. The company’s 50 day simple moving average is $6.88 and its 200-day simple moving average is $7.86. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.50 and a quick ratio of 1.50. The firm has a market capitalization of $979.55 million, a P/E ratio of -6.21 and a beta of 1.29.

Fastly (NYSE:FSLY) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. The business had revenue of $144.47 million for the quarter, compared to analyst estimates of $138.40 million. Fastly had a negative net margin of 27.73% and a negative return on equity of 12.29%. The firm’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.05) earnings per share. As a group, equities research analysts anticipate that Fastly will post -0.78 EPS for the current year.

Fastly Company Profile

Fastly, Inc operates an edge cloud platform for processing, serving, and securing its customer's applications in the United States, the Asia Pacific, Europe, and internationally. 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.