Fastly’s (FSLY) Neutral Rating Reaffirmed at Piper Sandler

Piper Sandler reiterated their neutral rating on shares of Fastly (NYSE:FSLY) in a report released on Thursday morning,Benzinga reports. Piper Sandler currently has a $9.00 price target on the stock, down from their previous price target of $10.00.

Several other analysts also recently commented on the stock. Oppenheimer raised shares of Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 target price for the company in a report on Monday, December 2nd. Craig Hallum lifted their target price on shares of Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a report on Thursday, November 7th. Royal Bank of Canada lifted their target price on shares of Fastly from $7.00 to $10.00 and gave the stock a “sector perform” rating in a report on Friday, January 3rd. Robert W. Baird lifted their target price 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, DA Davidson lifted their target price on shares of Fastly from $5.50 to $7.50 and gave the stock a “neutral” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $8.55.

Fastly Stock Performance

Shares of FSLY opened at $7.97 on Thursday. The firm has a 50-day moving average of $10.03 and a 200-day moving average of $8.11. Fastly has a one year low of $5.52 and a one year high of $23.68. The company has a market cap of $1.12 billion, a PE ratio of -7.31 and a beta of 1.26. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.97 and a quick ratio of 3.97.

Fastly (NYSE:FSLY) last announced its earnings results on Wednesday, February 12th. The company reported ($0.21) EPS 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%. As a group, equities analysts forecast that Fastly will post -0.86 earnings per share for the current year.

Insiders Place Their Bets

In other news, CTO Artur Bergman sold 3,400 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $12.01, for a total value of $40,834.00. Following the completion of the transaction, the chief technology officer now directly owns 3,444,136 shares in the company, valued at approximately $41,364,073.36. The trade was a 0.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Todd Nightingale sold 49,816 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were 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 of the company’s stock, valued at $10,006,081.25. The trade was a 3.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 260,152 shares of company stock worth $2,287,883 in the last quarter. 6.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Fastly

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Canada Pension Plan Investment Board acquired a new position in shares of Fastly in the 4th quarter valued at approximately $82,000. Marshall Wace LLP bought a new stake in shares of Fastly during the 4th quarter valued at approximately $7,618,000. Zacks Investment Management grew its holdings in shares of Fastly by 5.3% during the 4th quarter. Zacks Investment Management now owns 127,203 shares of the company’s stock valued at $1,201,000 after purchasing an additional 6,424 shares during the last quarter. Mariner LLC grew its holdings in shares of Fastly by 18.0% during the 4th quarter. Mariner LLC now owns 22,868 shares of the company’s stock valued at $216,000 after purchasing an additional 3,487 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Fastly during the 4th quarter valued at approximately $3,717,000. 79.71% of the stock is currently owned by institutional investors and hedge funds.

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.