Fastly (NYSE:FSLY) Price Target Raised to $8.00 at Craig Hallum

Fastly (NYSE:FSLY) had its price target increased by Craig Hallum from $6.00 to $8.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have a hold rating on the stock.

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

Fastly Trading Down 6.2 %

Fastly stock traded down $0.50 during trading hours on Thursday, reaching $7.67. The stock had a trading volume of 4,685,835 shares, compared to its average volume of 3,558,382. The company has a fifty day simple moving average of $7.09 and a 200-day simple moving average of $7.61. Fastly has a 52 week low of $5.52 and a 52 week high of $25.87. The stock has a market cap of $1.06 billion, a PE ratio of -6.18 and a beta of 1.24. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.13 and a quick ratio of 4.13.

Fastly (NYSE:FSLY) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01. Fastly had a negative return on equity of 15.22% and a negative net margin of 31.02%. The company had revenue of $132.37 million for the quarter, compared to the consensus estimate of $131.62 million. During the same quarter in the previous year, the business earned ($0.32) EPS. Fastly’s revenue was up 7.8% compared to the same quarter last year. Analysts forecast that Fastly will post -0.96 EPS for the current fiscal year.

Insider Buying and Selling at Fastly

In related news, CEO Todd Nightingale sold 66,066 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $6.18, for a total transaction of $408,287.88. Following the sale, the chief executive officer now directly owns 1,662,952 shares of the company’s stock, valued at approximately $10,277,043.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Todd Nightingale sold 66,066 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $6.18, for a total value of $408,287.88. Following the transaction, the chief executive officer now directly owns 1,662,952 shares of the company’s stock, valued at approximately $10,277,043.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Artur Bergman sold 49,178 shares of Fastly stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $8.07, for a total value of $396,866.46. Following the completion of the sale, the chief technology officer now directly owns 6,155,822 shares of the company’s stock, valued at approximately $49,677,483.54. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 192,628 shares of company stock worth $1,287,959. 6.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Fastly

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Point72 DIFC Ltd bought a new stake in shares of Fastly in the second quarter worth approximately $38,000. Cambridge Trust Co. purchased a new stake in Fastly in the first quarter worth approximately $39,000. Cape Investment Advisory Inc. grew its position in Fastly by 27,666.7% in the 1st quarter. Cape Investment Advisory Inc. now owns 4,165 shares of the company’s stock worth $54,000 after purchasing an additional 4,150 shares during the period. EMC Capital Management raised its stake in Fastly by 400.0% during the 2nd quarter. EMC Capital Management now owns 7,500 shares of the company’s stock valued at $54,000 after buying an additional 6,000 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of 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 buying an additional 4,318 shares during the period. Institutional investors own 79.71% of the company’s stock.

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.