Fastly (NYSE:FSLY) Price Target Raised to $30.00 at KeyCorp

Fastly (NYSE:FSLY) had its target price boosted by KeyCorp from $27.00 to $30.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s price objective indicates a potential upside of 29.22% from the stock’s previous close.

Several other research analysts also recently weighed in on FSLY. Freedom Capital upgraded Fastly to a “strong-buy” rating in a research note on Thursday, July 16th. Craig Hallum downgraded Fastly from a “buy” rating to a “hold” rating and set a $24.00 price target for the company. in a report on Tuesday, April 14th. Piper Sandler decreased their price target on Fastly to $27.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. Evercore reiterated an “outperform” rating on shares of Fastly in a research report on Thursday. Finally, Canaccord Genuity Group began coverage on shares of Fastly in a research note on Friday, July 17th. They issued a “buy” rating and a $27.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $24.11.

Fastly Stock Performance

FSLY stock traded down $2.81 during trading on Thursday, hitting $23.22. The company had a trading volume of 3,922,977 shares, compared to its average volume of 9,866,726. The firm has a market cap of $3.63 billion, a PE ratio of -24.02 and a beta of 0.34. Fastly has a 1-year low of $6.70 and a 1-year high of $34.82. The firm has a 50-day moving average price of $19.42 and a 200-day moving average price of $19.90. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.16.

Insider Transactions at Fastly

In related news, CTO Artur Bergman sold 7,889 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $20.96, for a total value of $165,353.44. Following the completion of the transaction, the chief technology officer directly owned 2,038,638 shares of the company’s stock, valued at $42,729,852.48. This trade represents a 0.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Charles Lacey Compton III sold 9,313 shares of Fastly stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $20.79, for a total value of $193,617.27. Following the transaction, the chief executive officer directly owned 1,063,945 shares of the company’s stock, valued at approximately $22,119,416.55. This represents a 0.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 274,529 shares of company stock worth $4,761,780 over the last quarter. Insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its stake in Fastly by 84.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,381 shares of the company’s stock valued at $40,000 after acquiring an additional 633 shares during the last quarter. Sound Income Strategies LLC acquired a new position in Fastly during the first quarter worth about $44,000. EverSource Wealth Advisors LLC raised its position in Fastly by 39.8% during the first quarter. EverSource Wealth Advisors LLC now owns 2,204 shares of the company’s stock worth $64,000 after acquiring an additional 627 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Fastly in the fourth quarter valued at about $41,000. Finally, Align Financial LLC purchased a new stake in shares of Fastly in the fourth quarter valued at about $41,000. Institutional investors and hedge funds own 79.71% of the company’s stock.

More Fastly News

Here are the key news stories impacting Fastly this week:

• Positive Sentiment: Fastly reported record second-quarter revenue of $183.3 million, up 23.3% year over year, beating Wall Street estimates by 5.34%. Non-GAAP earnings were $0.15 per share, more than double the $0.07 consensus estimate and an improvement from a year-earlier loss. Fastly Reports Upbeat Q2 Results
• Positive Sentiment: Security revenue increased 43%, while gross margin reached a record 65.8%. The results suggest Fastly’s security and edge-cloud offerings are gaining traction and supporting stronger profitability. Fastly Q2 Earnings Call Highlights
• Positive Sentiment: Management raised its full-year outlook and issued third-quarter revenue guidance of approximately $184 million to $190 million, above the $180.1 million analyst consensus. Third-quarter EPS guidance of $0.11 to $0.13 also significantly exceeded the $0.01 consensus, and full-year EPS guidance was set at $0.50 to $0.54. Fastly Raises Full-Year Outlook
• Neutral Sentiment: Fastly’s partnership with Experian’s Agent Trust ecosystem could strengthen its role in securing AI-agent traffic and autonomous transactions at the network edge, providing a longer-term growth opportunity. Fastly Joins Experian Agent Trust Ecosystem
• Negative Sentiment: Despite the earnings beat and raised guidance, shares reportedly weakened after the release. Investors may be taking profits after a roughly 299% one-year gain, with valuation concerns leaving limited room for execution missteps or slower growth. Fastly Stock Reaction to Q2 Results

Fastly Company Profile

Fastly, Inc operates an edge cloud platform designed to accelerate, secure and enable modern digital experiences. The company offers a suite of services including a content delivery network (CDN), edge compute, load balancing, web application firewall (WAF) and DDoS protection. Fastly’s real-time architecture allows customers to seamlessly deploy software logic at the network edge, reducing latency by bringing applications and content closer to end users.

Founded in 2011 by Artur Bergman, Fastly has evolved from a pure-play CDN provider into a comprehensive edge cloud platform.