Analysts Set Fastly, Inc. (NYSE:FSLY) Price Target at $8.55

Fastly, Inc. (NYSE:FSLY) has been assigned a consensus recommendation of “Hold” from the ten analysts that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $8.55.

FSLY has been the topic of several research analyst reports. Craig Hallum increased their price objective on shares of Fastly from $6.00 to $8.00 and gave the company a “hold” rating in a research report on Thursday, November 7th. Robert W. Baird boosted their target price on shares of Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Piper Sandler reaffirmed a “neutral” rating and set a $9.00 price target (down previously from $10.00) on shares of Fastly in a report on Thursday, February 13th. Royal Bank of Canada decreased their price objective on shares of Fastly from $10.00 to $8.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 13th. Finally, Oppenheimer raised Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 target price on the stock in a report on Monday, December 2nd.

Insider Buying and Selling

In other news, CEO Todd Nightingale sold 12,163 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $8.12, for a total transaction of $98,763.56. Following the sale, the chief executive officer now directly owns 1,588,810 shares in the company, valued at $12,901,137.20. This represents a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CTO Artur Bergman sold 10,000 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $10.58, for a total transaction of $105,800.00. Following the completion of the sale, the chief technology officer now directly owns 3,364,136 shares in the company, valued at approximately $35,592,558.88. The trade was a 0.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 177,312 shares of company stock worth $1,770,133. 6.70% of the stock is owned by insiders.

Institutional Trading of Fastly

A number of hedge funds and other institutional investors have recently bought and sold shares of FSLY. AlphaQuest LLC grew its position in shares of Fastly by 169.1% during the 4th quarter. AlphaQuest LLC now owns 4,710 shares of the company’s stock valued at $44,000 after purchasing an additional 2,960 shares in the last quarter. FMR LLC lifted its position in Fastly by 124.2% in the third quarter. FMR LLC now owns 6,357 shares of the company’s stock valued at $48,000 after purchasing an additional 3,522 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Fastly by 128.9% during the fourth quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company’s stock valued at $54,000 after purchasing an additional 3,221 shares during the period. Wealthfront Advisers LLC bought a new position in shares of Fastly in the fourth quarter worth approximately $72,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Fastly in the fourth quarter worth $82,000. Institutional investors own 79.71% of the company’s stock.

Fastly Stock Performance

NYSE FSLY opened at $8.19 on Friday. The firm has a market capitalization of $1.15 billion, a P/E ratio of -7.51 and a beta of 1.26. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.36. The firm’s fifty day moving average price is $9.87 and its two-hundred day moving average price is $8.12. Fastly has a 1 year low of $5.52 and a 1 year high of $15.80.

Fastly (NYSE:FSLY) last issued its earnings results on Wednesday, February 12th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.22). Fastly had a negative net margin of 27.47% and a negative return on equity of 13.24%. As a group, research analysts anticipate that Fastly will post -0.86 EPS for the current 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.