Analysts Set Fastly, Inc. (NYSE:FSLY) Price Target at $8.55

Fastly, Inc. (NYSE:FSLY) has received a consensus rating of “Hold” from the ten ratings firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $8.55.

FSLY has been the topic of several research reports. Raymond James lowered shares of Fastly from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. Robert W. Baird raised their target price on Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Oppenheimer upgraded shares of Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 target price on the stock in a report on Monday, December 2nd. Royal Bank of Canada increased their price objective on Fastly from $6.00 to $7.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 7th. Finally, Craig Hallum lifted their target price on Fastly from $6.00 to $8.00 and gave the company a “hold” rating in a research report on Thursday, November 7th.

Fastly Stock Performance

Shares of FSLY stock opened at $9.60 on Thursday. Fastly has a one year low of $5.52 and a one year high of $25.87. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.97 and a quick ratio of 3.97. The stock has a market cap of $1.35 billion, a P/E ratio of -8.81 and a beta of 1.27. The company has a fifty day moving average price of $8.56 and a two-hundred day moving average price of $7.56.

Fastly (NYSE:FSLY) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.08. Fastly had a negative return on equity of 13.24% and a negative net margin of 27.47%. The company had revenue of $137.21 million during the quarter, compared to analysts’ expectations of $131.86 million. During the same quarter in the previous year, the company posted ($0.33) earnings per share. The business’s revenue was up 7.3% on a year-over-year basis. As a group, equities analysts predict that Fastly will post -0.86 EPS for the current year.

Insider Activity at Fastly

In related news, CTO Artur Bergman sold 49,178 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $8.07, for a total transaction of $396,866.46. Following the completion of the sale, the chief technology officer now owns 6,155,822 shares in the company, valued at approximately $49,677,483.54. This trade represents a 0.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Todd Nightingale sold 12,163 shares of Fastly stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $8.12, for a total transaction of $98,763.56. Following the completion of the sale, the chief executive officer now directly owns 1,588,810 shares in the company, valued at $12,901,137.20. This trade represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 228,641 shares of company stock valued at $1,841,418. 6.70% of the stock is owned by insiders.

Institutional Trading of Fastly

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can boosted its holdings in Fastly by 11,140.2% in the 3rd quarter. Bank of Montreal Can now owns 1,305,101 shares of the company’s stock valued at $9,867,000 after purchasing an additional 1,293,490 shares during the period. Penserra Capital Management LLC grew its position in Fastly by 18.8% during the third quarter. Penserra Capital Management LLC now owns 5,075,127 shares of the company’s stock worth $38,418,000 after buying an additional 801,968 shares in the last quarter. Point72 Asset Management L.P. grew its position in Fastly by 461.5% during the second quarter. Point72 Asset Management L.P. now owns 756,380 shares of the company’s stock worth $5,575,000 after buying an additional 621,680 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Fastly during the 2nd quarter valued at about $1,233,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Fastly by 18.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,057,642 shares of the company’s stock worth $8,006,000 after purchasing an additional 161,070 shares in the last quarter. 79.71% of the stock is currently owned by institutional investors.

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.