Fastly (NYSE:FSLY) Price Target Raised to $7.50 at DA Davidson

Fastly (NYSE:FSLY) had its price target upped by analysts at DA Davidson from $5.50 to $7.50 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. DA Davidson’s price target would suggest a potential downside of 4.70% from the stock’s current price.

A number of other analysts also recently issued reports on FSLY. Piper Sandler raised their price target on Fastly from $6.00 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday. Craig Hallum raised their price target on shares of Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a research note on Thursday. Raymond James cut Fastly from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, October 1st. Morgan Stanley reduced their price objective on Fastly from $12.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 27th. Finally, Royal Bank of Canada raised 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. One analyst has rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $7.94.

Fastly Stock Performance

FSLY stock traded down $0.29 during midday trading on Thursday, reaching $7.87. 3,600,033 shares of the company’s stock traded hands, compared to its average volume of 3,544,247. The company has a debt-to-equity ratio of 0.35, a quick ratio of 4.13 and a current ratio of 4.13. Fastly has a 52 week low of $5.52 and a 52 week high of $25.87. The firm has a market capitalization of $1.09 billion, a PE ratio of -6.35 and a beta of 1.24. The company has a 50-day moving average price of $7.01 and a two-hundred day moving average price of $7.64.

Fastly (NYSE:FSLY) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.01. Fastly had a negative net margin of 31.02% and a negative return on equity of 15.22%. The business had revenue of $132.37 million during the quarter, compared to analyst estimates of $131.62 million. During the same period last year, the business posted ($0.32) earnings per share. Fastly’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, equities analysts anticipate that Fastly will post -0.96 EPS for the current year.

Insiders Place Their Bets

In related news, CTO Artur Bergman sold 19,889 shares of Fastly stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $5.96, for a total value of $118,538.44. Following the sale, the chief technology officer now owns 6,205,000 shares of the company’s stock, valued at approximately $36,981,800. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Ronald W. Kisling sold 7,449 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $7.24, for a total transaction of $53,930.76. Following the transaction, the chief financial officer now owns 558,564 shares in the company, valued at $4,044,003.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Artur Bergman sold 19,889 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $5.96, for a total value of $118,538.44. Following the sale, the chief technology officer now directly owns 6,205,000 shares of the company’s stock, valued at $36,981,800. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 143,450 shares of company stock worth $891,093. Insiders own 6.70% of the company’s stock.

Hedge Funds Weigh In On Fastly

A number of institutional investors have recently made changes to their positions in FSLY. Point72 DIFC Ltd purchased a new position in Fastly during the second quarter valued at approximately $38,000. Cambridge Trust Co. acquired a new position in Fastly during the first quarter worth $39,000. Cape Investment Advisory Inc. grew its holdings in shares of Fastly by 27,666.7% during the first quarter. Cape Investment Advisory Inc. now owns 4,165 shares of the company’s stock worth $54,000 after buying an additional 4,150 shares in the last quarter. EMC Capital Management grew its position in Fastly by 400.0% in the second quarter. EMC Capital Management now owns 7,500 shares of the company’s stock worth $54,000 after acquiring an additional 6,000 shares during the period. Finally, Daiwa Securities Group Inc. boosted its holdings in Fastly by 95.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 8,849 shares of the company’s stock valued at $65,000 after acquiring an additional 4,318 shares during the period. Institutional investors own 79.71% of the company’s stock.

Fastly Company Profile

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.