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

Shares of Fastly, Inc. (NYSE:FSLY) have received a consensus rating of “Reduce” from the nine analysts that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $7.94.

A number of research analysts have weighed in on the company. Royal Bank of Canada increased their price target on Fastly from $6.00 to $7.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 7th. Raymond James lowered Fastly from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 1st. DA Davidson upped their price objective on shares of Fastly from $5.50 to $7.50 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Robert W. Baird increased their price objective on shares of Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Morgan Stanley lowered their target price on shares of Fastly from $12.00 to $7.00 and set an “equal weight” rating for the company in a report on Tuesday, August 27th.

Insiders Place Their Bets

In related news, CEO Todd Nightingale sold 66,066 shares of Fastly stock in a transaction on Friday, August 16th. The shares were sold at an average price of $6.18, for a total transaction of $408,287.88. Following the transaction, the chief executive officer now owns 1,662,952 shares in the company, valued at approximately $10,277,043.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Todd Nightingale sold 66,066 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $6.18, for a total transaction of $408,287.88. Following the sale, the chief executive officer now directly owns 1,662,952 shares in the company, valued at approximately $10,277,043.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Ronald W. Kisling sold 15,933 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $6.18, for a total value of $98,465.94. Following the completion of the transaction, the chief financial officer now owns 570,124 shares of the company’s stock, valued at approximately $3,523,366.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 192,628 shares of company stock worth $1,287,959 over the last ninety days. 6.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Fastly

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jennison Associates LLC purchased a new stake in shares of Fastly during the first quarter worth about $13,724,000. Penserra Capital Management LLC increased its holdings in Fastly by 18.8% during the 3rd quarter. Penserra Capital Management LLC now owns 5,075,127 shares of the company’s stock worth $38,418,000 after purchasing an additional 801,968 shares during the last quarter. Vanguard Group Inc. increased its holdings in 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 purchasing an additional 657,334 shares during the last quarter. Point72 Asset Management L.P. raised its position in shares of Fastly by 461.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 756,380 shares of the company’s stock valued at $5,575,000 after purchasing an additional 621,680 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its stake in shares of Fastly by 94.4% during the 1st 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 last quarter. Hedge funds and other institutional investors own 79.71% of the company’s stock.

Fastly Trading Down 1.6 %

Fastly stock opened at $7.07 on Wednesday. The stock has a 50-day moving average price of $7.11 and a 200 day moving average price of $7.50. Fastly has a 52 week low of $5.52 and a 52 week high of $25.87. The stock has a market cap of $979.21 million, a PE ratio of -6.59 and a beta of 1.24. The company has a current ratio of 4.13, a quick ratio of 4.13 and a debt-to-equity ratio of 0.35.

Fastly (NYSE:FSLY) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.08. The business had revenue of $137.21 million during the quarter, compared to the consensus estimate of $131.86 million. Fastly had a negative net margin of 27.47% and a negative return on equity of 13.19%. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.33) earnings per share. Equities research analysts predict that Fastly will post -0.95 earnings per share for the current fiscal year.

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.