Fastly, Inc. (NYSE:FSLY) Receives $7.81 Consensus Price Target from Analysts

Fastly, Inc. (NYSE:FSLY) has earned an average rating of “Hold” from the eight analysts that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $7.81.

FSLY has been the topic of several recent analyst reports. Piper Sandler lowered Fastly from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $10.00 to $6.00 in a research report on Thursday, August 8th. Raymond James cut their price objective on shares of Fastly from $13.00 to $8.00 and set a “strong-buy” rating on the stock in a report on Thursday, August 8th. Craig Hallum lowered their target price on shares of Fastly from $10.00 to $6.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Finally, Morgan Stanley dropped their target price on shares of Fastly from $12.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 27th.

Fastly Stock Up 1.5 %

Fastly stock opened at $7.15 on Tuesday. The company has a quick ratio of 4.13, a current ratio of 4.13 and a debt-to-equity ratio of 0.35. The firm has a market cap of $976.28 million, a P/E ratio of -7.15 and a beta of 1.20. The business has a fifty day moving average of $6.79 and a two-hundred day moving average of $9.03. Fastly has a twelve month low of $5.52 and a twelve month high of $25.87.

Fastly (NYSE:FSLY) last posted its earnings results on Wednesday, August 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.01. Fastly had a negative return on equity of 15.22% and a negative net margin of 31.02%. The company had revenue of $132.37 million for the quarter, compared to analyst estimates of $131.62 million. During the same quarter in the previous year, the firm earned ($0.32) earnings per share. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, analysts forecast that Fastly will post -0.96 earnings per share for the current fiscal year.

Insider Activity at Fastly

In other news, CFO Ronald W. Kisling sold 12,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $7.27, for a total value of $87,240.00. Following the sale, the chief financial officer now directly owns 593,506 shares of the company’s stock, valued at approximately $4,314,788.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Ronald W. Kisling sold 7,449 shares of Fastly stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $8.84, for a total transaction of $65,849.16. Following the completion of the transaction, the chief financial officer now directly owns 586,057 shares in the company, valued at $5,180,743.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Ronald W. Kisling sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $7.27, for a total value of $87,240.00. Following the completion of the sale, the chief financial officer now owns 593,506 shares in the company, valued at approximately $4,314,788.62. The disclosure for this sale can be found here. Insiders have sold a total of 155,450 shares of company stock worth $990,251 over the last quarter. Insiders own 6.70% of the company’s stock.

Hedge Funds Weigh In On Fastly

Several large investors have recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co grew its position in Fastly by 94.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 960,864 shares of the company’s stock valued at $12,453,000 after buying an additional 466,560 shares during the period. Vanguard Group Inc. boosted its stake in shares of Fastly by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 13,581,524 shares of the company’s stock worth $176,152,000 after acquiring an additional 657,334 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Fastly by 9.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,906,860 shares of the company’s stock worth $33,942,000 after acquiring an additional 162,659 shares in the last quarter. Oppenheimer & Co. Inc. increased its stake in shares of Fastly by 52.1% in the 1st quarter. Oppenheimer & Co. Inc. now owns 51,212 shares of the company’s stock valued at $664,000 after purchasing an additional 17,536 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new position in Fastly in the 4th quarter worth about $2,933,000. 79.71% of the stock is currently owned by institutional investors and hedge funds.

About Fastly

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.