Analysts Set Fastly, Inc. (NYSE:FSLY) Price Target at $8.69

Fastly, Inc. (NYSE:FSLY) has been given a consensus rating of “Hold” by the ten brokerages that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $8.6875.

A number of brokerages recently commented on FSLY. Craig Hallum raised shares of Fastly from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a research report on Thursday, August 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Fastly in a research report on Saturday, September 27th. Finally, Royal Bank Of Canada boosted their target price on shares of Fastly from $6.00 to $7.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 7th.

Fastly Stock Performance

Shares of FSLY opened at $8.81 on Friday. The company’s 50 day moving average price is $7.63 and its 200 day moving average price is $7.05. Fastly has a 52 week low of $4.65 and a 52 week high of $12.08. The company has a market capitalization of $1.30 billion, a PE ratio of -8.55 and a beta of 1.30. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.49 and a current ratio of 1.49.

Fastly (NYSE:FSLY) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. Fastly had a negative net margin of 25.85% and a negative return on equity of 11.98%. The firm had revenue of $148.71 million for the quarter, compared to the consensus estimate of $144.86 million. During the same period in the previous year, the firm posted ($0.07) earnings per share. The firm’s revenue was up 12.3% on a year-over-year basis. Research analysts expect that Fastly will post -0.78 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Artur Bergman sold 20,000 shares of the business’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $8.53, for a total value of $170,600.00. Following the completion of the sale, the chief technology officer directly owned 3,441,276 shares in the company, valued at approximately $29,354,084.28. The trade was a 0.58% 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. Also, insider Scott R. Lovett sold 42,172 shares of the business’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $8.41, for a total transaction of $354,666.52. Following the completion of the sale, the insider owned 1,088,551 shares of the company’s stock, valued at $9,154,713.91. The trade was a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 488,738 shares of company stock valued at $3,907,380 over the last ninety days. Corporate insiders own 6.70% of the company’s stock.

Institutional Trading of Fastly

A number of institutional investors and hedge funds have recently modified their holdings of FSLY. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Fastly by 17.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 263,124 shares of the company’s stock worth $2,484,000 after buying an additional 39,782 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Fastly by 451.7% in the first quarter. GAMMA Investing LLC now owns 7,261 shares of the company’s stock worth $46,000 after buying an additional 5,945 shares during the last quarter. 180 Wealth Advisors LLC raised its stake in Fastly by 12.6% during the 1st quarter. 180 Wealth Advisors LLC now owns 77,264 shares of the company’s stock valued at $489,000 after purchasing an additional 8,621 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in Fastly during the 1st quarter valued at $91,000. Finally, Oppenheimer & Co. Inc. raised its stake in Fastly by 423.0% during the 1st quarter. Oppenheimer & Co. Inc. now owns 82,628 shares of the company’s stock valued at $523,000 after purchasing an additional 66,828 shares during the last quarter. 79.71% of the stock is currently owned by institutional investors and hedge funds.

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.