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

Fastly, Inc. (NYSE:FSLY) has been given a consensus rating of “Hold” by the eight ratings firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $14.44.

A number of research analysts recently commented on the stock. Citigroup decreased their price target 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. Piper Sandler raised shares of Fastly from a “neutral” rating to an “overweight” rating and dropped their price objective for the company from $19.00 to $16.00 in a research note on Monday, April 8th. DA Davidson downgraded shares of Fastly from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $24.00 to $8.50 in a research note on Thursday, May 2nd. Bank of America downgraded shares of Fastly from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $18.00 to $8.00 in a research note on Thursday, May 2nd. Finally, Royal Bank of Canada decreased their price target on shares of Fastly from $18.00 to $9.00 and set a “sector perform” rating for the company in a research report on Thursday, May 2nd.

Insider Buying and Selling

In other news, CEO Todd Nightingale sold 65,447 shares of Fastly stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $8.84, for a total value of $578,551.48. Following the completion of the transaction, the chief executive officer now owns 1,741,181 shares in the company, valued at $15,392,040.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Todd Nightingale sold 65,447 shares of Fastly stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $8.84, for a total value of $578,551.48. Following the completion of the transaction, the chief executive officer now owns 1,741,181 shares in the company, valued at $15,392,040.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ronald W. Kisling sold 12,000 shares of Fastly stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $7.27, for a total transaction of $87,240.00. Following the completion of the transaction, the chief financial officer now owns 593,506 shares of the company’s stock, valued at approximately $4,314,788.62. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 135,254 shares of company stock worth $1,208,322. Insiders own 6.70% of the company’s stock.

Hedge Funds Weigh In On Fastly

Hedge funds have recently bought and sold shares of the company. Allworth Financial LP grew its stake in Fastly by 1,420.9% during the fourth quarter. Allworth Financial LP now owns 2,114 shares of the company’s stock valued at $38,000 after acquiring an additional 1,975 shares in the last quarter. Cambridge Trust Co. purchased a new position in Fastly during the first quarter valued at approximately $39,000. International Assets Investment Management LLC bought a new stake in Fastly during the fourth quarter valued at approximately $61,000. Cape Investment Advisory Inc. lifted its position in Fastly by 27,666.7% during the first quarter. Cape Investment Advisory Inc. now owns 4,165 shares of the company’s stock valued at $54,000 after purchasing an additional 4,150 shares during the last quarter. Finally, EntryPoint Capital LLC lifted its position in Fastly by 41.1% during the first quarter. EntryPoint Capital LLC now owns 5,644 shares of the company’s stock valued at $73,000 after purchasing an additional 1,643 shares during the last quarter. Hedge funds and other institutional investors own 79.71% of the company’s stock.

Fastly Stock Down 2.3 %

Fastly stock opened at $7.13 on Thursday. The firm has a market capitalization of $974.23 million, a PE ratio of -7.13 and a beta of 1.13. The company’s 50-day moving average is $7.86 and its 200-day moving average is $13.13. Fastly has a fifty-two week low of $6.77 and a fifty-two week high of $25.87. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.83 and a quick ratio of 3.83.

Fastly (NYSE:FSLY) last announced its quarterly earnings results on Wednesday, May 1st. The company reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.02. Fastly had a negative net margin of 25.26% and a negative return on equity of 15.82%. The business had revenue of $133.52 million for the quarter, compared to analyst estimates of $133.01 million. Sell-side analysts anticipate that Fastly will post -1.08 earnings per share for the current year.

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.