Fastly (NYSE:FSLY) Price Target Raised to $10.00

Fastly (NYSE:FSLY) had its target price raised by equities researchers at Piper Sandler from $7.50 to $10.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price target suggests a potential downside of 0.91% from the company’s previous close.

Several other brokerages also recently weighed in on FSLY. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fastly in a research report on Wednesday, October 8th. Royal Bank Of Canada raised their price target on shares of Fastly from $7.00 to $9.00 and gave the stock a “sector perform” rating in a report on Thursday. Finally, Craig Hallum upgraded shares of Fastly from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a report on Thursday, August 7th. One research analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $9.31.

Fastly Stock Up 25.1%

FSLY stock traded up $2.02 during trading on Thursday, hitting $10.09. 9,906,405 shares of the stock traded hands, compared to its average volume of 2,975,471. The firm’s 50 day moving average is $8.19 and its two-hundred day moving average is $7.42. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.49 and a quick ratio of 1.49. Fastly has a 1 year low of $4.65 and a 1 year high of $12.08. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of -9.81 and a beta of 1.21.

Fastly (NYSE:FSLY) last posted its earnings results on Wednesday, November 5th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.06. The business had revenue of $158.22 million for the quarter, compared to analysts’ expectations of $151.04 million. Fastly had a negative net margin of 25.85% and a negative return on equity of 11.98%. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.02 EPS. Fastly has set its Q4 2025 guidance at 0.040-0.080 EPS. FY 2025 guidance at 0.030-0.070 EPS. On average, sell-side analysts anticipate that Fastly will post -0.78 EPS for the current year.

Insider Activity at Fastly

In related news, CTO Artur Bergman sold 58,138 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $7.41, for a total value of $430,802.58. Following the sale, the chief technology officer owned 3,521,276 shares of the company’s stock, valued at approximately $26,092,655.16. This trade represents a 1.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Scott R. Lovett sold 178,931 shares of Fastly stock in a transaction on Monday, September 15th. The shares were sold at an average price of $8.28, for a total value of $1,481,548.68. Following the transaction, the insider owned 1,165,185 shares in the company, valued at $9,647,731.80. This represents a 13.31% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 597,933 shares of company stock valued at $4,823,359. Insiders own 6.70% of the company’s stock.

Institutional Investors Weigh In On Fastly

Hedge funds and other institutional investors have recently made changes to their positions in the business. Byrne Asset Management LLC acquired a new position in shares of Fastly during the third quarter valued at about $43,000. Banque Transatlantique SA acquired a new stake in shares of Fastly in the 1st quarter worth about $38,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Fastly in the 3rd quarter worth about $56,000. State of Alaska Department of Revenue acquired a new stake in shares of Fastly in the 3rd quarter worth about $57,000. Finally, Geneos Wealth Management Inc. purchased a new stake in Fastly in the 1st quarter valued at about $52,000. 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.