Fastly (NYSE:FSLY) Earns Neutral Rating from Piper Sandler

Fastly (NYSE:FSLY)‘s stock had its “neutral” rating reiterated by analysts at Piper Sandler in a research note issued on Thursday,Benzinga reports. They currently have a $9.00 price target on the stock, down from their prior price target of $10.00. Piper Sandler’s price objective indicates a potential upside of 11.32% from the company’s previous close.

Several other research firms have also recently weighed in on FSLY. Royal Bank of Canada upped their price objective on shares of Fastly from $7.00 to $10.00 and gave the stock a “sector perform” rating in a research report on Friday, January 3rd. Craig Hallum upped their target price on Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a research note on Thursday, November 7th. DA Davidson upped their target price on Fastly from $5.50 to $7.50 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Robert W. Baird upped their target price on Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Citigroup upped their target price on Fastly from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $8.55.

Fastly Stock Up 1.4 %

FSLY stock opened at $8.09 on Thursday. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.36. The company’s 50 day moving average is $9.99 and its 200 day moving average is $8.11. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of -7.42 and a beta of 1.26. Fastly has a 1-year low of $5.52 and a 1-year high of $18.42.

Fastly (NYSE:FSLY) last posted its quarterly earnings data on Wednesday, February 12th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.22). Fastly had a negative return on equity of 13.24% and a negative net margin of 27.47%. Sell-side analysts predict that Fastly will post -0.86 EPS for the current fiscal year.

Insider Activity

In related news, CEO Todd Nightingale sold 49,816 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $6.25, for a total transaction of $311,350.00. Following the completion of the transaction, the chief executive officer now owns 1,600,973 shares in the company, valued at $10,006,081.25. This represents a 3.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Artur Bergman sold 31,551 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $10.31, for a total value of $325,290.81. Following the transaction, the chief technology officer now owns 3,394,136 shares of the company’s stock, valued at approximately $34,993,542.16. This represents a 0.92 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 260,152 shares of company stock valued at $2,287,883. 6.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Fastly

A number of institutional investors have recently added to or reduced their stakes in FSLY. AlphaQuest LLC raised its holdings in Fastly by 169.1% in the fourth quarter. AlphaQuest LLC now owns 4,710 shares of the company’s stock worth $44,000 after purchasing an additional 2,960 shares in the last quarter. FMR LLC raised its holdings in Fastly by 124.2% in the third quarter. FMR LLC now owns 6,357 shares of the company’s stock worth $48,000 after purchasing an additional 3,522 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in Fastly by 128.9% in the fourth quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company’s stock worth $54,000 after purchasing an additional 3,221 shares in the last quarter. Wealthfront Advisers LLC bought a new position in Fastly in the fourth quarter worth $72,000. Finally, Canada Pension Plan Investment Board bought a new position in Fastly in the fourth quarter worth $82,000. Institutional investors own 79.71% of the company’s stock.

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.