Fastly, Inc. (NYSE:FSLY) Given Average Rating of “Hold” by Brokerages

Fastly, Inc. (NYSE:FSLYGet Free Report) has been given an average recommendation of “Hold” by the eight ratings firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $14.61.

Several analysts have weighed in on FSLY shares. Piper Sandler upgraded shares of Fastly from a “neutral” rating to an “overweight” rating and lowered their target price for the company from $19.00 to $16.00 in a research note on Monday, April 8th. Citigroup dropped their price objective on shares of Fastly from $15.00 to $10.00 and set a “neutral” rating on the stock in a research note on Thursday, May 9th. Royal Bank of Canada decreased their target price on Fastly from $18.00 to $9.00 and set a “sector perform” rating for the company in a research note on Thursday, May 2nd. Bank of America cut Fastly from a “buy” rating to an “underperform” rating and dropped their price target for the stock from $18.00 to $8.00 in a research report on Thursday, May 2nd. Finally, Craig Hallum lowered Fastly from a “buy” rating to a “hold” rating and set a $20.00 price objective for the company. in a research report on Thursday, February 15th.

View Our Latest Stock Report on Fastly

Insider Activity at Fastly

In other Fastly news, CFO Ronald W. Kisling sold 23,105 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $8.84, for a total transaction of $204,248.20. Following the sale, the chief financial officer now directly owns 609,631 shares in the company, valued at approximately $5,389,138.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Ronald W. Kisling sold 23,105 shares of Fastly stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $8.84, for a total transaction of $204,248.20. Following the transaction, the chief financial officer now directly owns 609,631 shares in the company, valued at approximately $5,389,138.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Ronald W. Kisling sold 2,919 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $8.92, for a total value of $26,037.48. Following the completion of the sale, the chief financial officer now owns 606,712 shares of the company’s stock, valued at approximately $5,411,871.04. The disclosure for this sale can be found here. Insiders sold 135,254 shares of company stock worth $1,276,122 in the last 90 days. Corporate insiders own 6.70% of the company’s stock.

Hedge Funds Weigh In On Fastly

Several hedge funds have recently made changes to their positions in FSLY. Barclays PLC boosted its holdings in Fastly by 28.9% during the third quarter. Barclays PLC now owns 73,961 shares of the company’s stock worth $1,418,000 after buying an additional 16,561 shares in the last quarter. New York State Common Retirement Fund boosted its position in shares of Fastly by 245.3% in the 3rd quarter. New York State Common Retirement Fund now owns 159,195 shares of the company’s stock valued at $3,052,000 after purchasing an additional 113,095 shares during the period. Swiss National Bank increased its stake in Fastly by 2.2% in the 3rd quarter. Swiss National Bank now owns 251,300 shares of the company’s stock worth $4,817,000 after purchasing an additional 5,500 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Fastly by 5.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 916,872 shares of the company’s stock valued at $17,576,000 after buying an additional 48,008 shares in the last quarter. Finally, Blair William & Co. IL boosted its holdings in shares of Fastly by 13.6% in the third quarter. Blair William & Co. IL now owns 18,257 shares of the company’s stock worth $350,000 after buying an additional 2,181 shares during the period. Institutional investors and hedge funds own 79.71% of the company’s stock.

Fastly Stock Performance

Fastly stock opened at $7.27 on Friday. Fastly has a 52 week low of $7.15 and a 52 week high of $25.87. The company has a current ratio of 3.83, a quick ratio of 3.83 and a debt-to-equity ratio of 0.35. The stock has a market cap of $993.36 million, a P/E ratio of -7.27 and a beta of 1.11. The stock has a 50 day moving average of $10.04 and a 200-day moving average of $14.58.

Fastly (NYSE:FSLYGet Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.02. The business had revenue of $133.52 million for the quarter, compared to analysts’ expectations of $133.01 million. Fastly had a negative net margin of 25.26% and a negative return on equity of 15.82%. On average, analysts expect that Fastly will post -1.08 EPS for the current fiscal year.

About Fastly

(Get Free Report

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.

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