Fastly (NASDAQ:FSLY) Trading Up 9.2% – Still a Buy?

Shares of Fastly, Inc. (NASDAQ:FSLY) shot up 9.2% during trading on Thursday . The company traded as high as $25.57 and last traded at $25.6940. Approximately 1,595,951 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 9,188,846 shares. The stock had previously closed at $23.54.

Wall Street Analysts Forecast Growth

FSLY has been the topic of a number of analyst reports. Freedom Capital upgraded shares of Fastly to a “strong-buy” rating in a research note on Thursday, July 16th. KeyCorp upped their price objective on Fastly from $27.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Canaccord Genuity Group started coverage on Fastly in a research note on Friday, July 17th. They issued a “buy” rating and a $27.00 price objective on the stock. Evercore reiterated an “outperform” rating on shares of Fastly in a research report on Thursday, August 6th. Finally, Piper Sandler increased their target price on shares of Fastly from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $25.33.

Fastly Price Performance

The stock has a market cap of $3.92 billion, a P/E ratio of -46.52 and a beta of 0.36. The company’s 50 day moving average price is $22.93 and its 200-day moving average price is $22.39. The company has a quick ratio of 3.36, a current ratio of 3.36 and a debt-to-equity ratio of 0.33.

Fastly (NASDAQ:FSLY) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.08. Fastly had a negative return on equity of 6.31% and a negative net margin of 11.80%.The company had revenue of $183.32 million during the quarter, compared to analysts’ expectations of $173.94 million. Fastly has set its FY 2026 guidance at 0.500-0.540 EPS and its Q3 2026 guidance at 0.110-0.130 EPS. As a group, sell-side analysts expect that Fastly, Inc. will post -0.29 earnings per share for the current year.

Insider Buying and Selling at Fastly

In other news, CFO Richard Wong sold 148,015 shares of the business’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $28.61, for a total transaction of $4,234,709.15. Following the completion of the sale, the chief financial officer directly owned 1,091,286 shares of the company’s stock, valued at $31,221,692.46. The trade was a 11.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Artur Bergman sold 32,387 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $28.60, for a total value of $926,268.20. Following the completion of the sale, the chief technology officer directly owned 2,005,191 shares of the company’s stock, valued at $57,348,462.60. The trade was a 1.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 587,926 shares of company stock valued at $14,915,391 over the last ninety days. 4.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Fastly

Hedge funds have recently made changes to their positions in the business. Integrated Wealth Concepts LLC bought a new stake in Fastly in the second quarter worth about $48,000. IFP Advisors Inc raised its stake in shares of Fastly by 1,621.7% in the second quarter. IFP Advisors Inc now owns 1,429 shares of the company’s stock valued at $26,000 after buying an additional 1,346 shares during the period. Spark Investment Management LLC bought a new position in shares of Fastly during the 2nd quarter worth $340,000. Nykredit A S bought a new stake in Fastly in the 2nd quarter valued at about $77,000. Finally, AlphaGrep UK Ltd bought a new position in Fastly during the second quarter worth about $366,000. 79.71% of the stock is currently owned by institutional investors.

About Fastly

Fastly, Inc is a cloud computing company that provides an edge cloud platform for delivering, securing and accelerating digital experiences. Its platform processes and serves applications, websites, APIs, streaming media and other internet content closer to end users, helping organizations improve performance, reliability and control.

Fastly’s product portfolio includes content delivery and application performance services, application programming interface (API) security, web application and bot protection, distributed denial-of-service (DDoS) mitigation, and edge compute capabilities.