Fastly (NYSE:FSLY) Stock Rating Lowered by DA Davidson

DA Davidson lowered shares of Fastly (NYSE:FSLY) from a buy rating to a neutral rating in a report published on Thursday, MarketBeat Ratings reports. DA Davidson currently has $8.50 price objective on the stock, down from their previous price objective of $24.00.

Several other research firms have also recently commented on FSLY. Piper Sandler raised shares of Fastly from a neutral rating to an overweight rating and dropped their target price for the stock from $19.00 to $16.00 in a research report on Monday, April 8th. Royal Bank of Canada raised Fastly from an underperform rating to a sector perform rating and boosted their price objective for the stock from $12.00 to $18.00 in a research report on Monday, January 8th. Craig Hallum lowered Fastly from a buy rating to a hold rating and set a $20.00 target price for the company. in a research report on Thursday, February 15th. Citigroup reduced their price target on shares of Fastly from $20.00 to $15.00 and set a neutral rating for the company in a research report on Thursday, April 25th. Finally, Bank of America lowered shares of Fastly from a buy rating to an underperform rating and lowered their price objective for the stock from $18.00 to $8.00 in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $15.17.

Fastly Stock Performance

Shares of FSLY opened at $8.48 on Thursday. The firm has a market capitalization of $1.16 billion, a P/E ratio of -8.48 and a beta of 1.21. Fastly has a 52 week low of $7.83 and a 52 week high of $25.87. The stock has a 50 day moving average price of $12.97 and a two-hundred day moving average price of $16.17. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.14 and a current ratio of 3.83.

Fastly (NYSE:FSLY) last announced its quarterly earnings results on Wednesday, February 14th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.05. Fastly had a negative return on equity of 15.82% and a negative net margin of 25.26%. The business had revenue of $137.78 million during the quarter, compared to the consensus estimate of $139.25 million. Equities analysts forecast that Fastly will post -1.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Fastly news, insider Artur Bergman sold 21,875 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $25.19, for a total transaction of $551,031.25. Following the sale, the insider now owns 6,050,259 shares in the company, valued at $152,406,024.21. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Richard Devon Daniels sold 7,766 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $12.66, for a total value of $98,317.56. Following the completion of the transaction, the director now directly owns 34,328 shares in the company, valued at $434,592.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Artur Bergman sold 21,875 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $25.19, for a total transaction of $551,031.25. Following the transaction, the insider now directly owns 6,050,259 shares of the company’s stock, valued at approximately $152,406,024.21. The disclosure for this sale can be found here. In the last ninety days, insiders sold 199,201 shares of company stock valued at $3,160,402. Company insiders own 7.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FSLY. Hanseatic Management Services Inc. bought a new stake in shares of Fastly during the 3rd quarter valued at about $33,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Fastly during the third quarter valued at approximately $36,000. Allworth Financial LP grew its stake in Fastly by 1,420.9% in the 4th quarter. Allworth Financial LP now owns 2,114 shares of the company’s stock worth $38,000 after buying an additional 1,975 shares in the last quarter. Hollencrest Capital Management purchased a new position in Fastly in the 3rd quarter worth approximately $58,000. Finally, International Assets Investment Management LLC bought a new position in shares of Fastly in the 4th quarter worth $61,000. 79.71% of the stock is owned by institutional investors.

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.