Fastly (NYSE:FSLY) Rating Increased to Outperform at Oppenheimer

Fastly (NYSE:FSLY) was upgraded by stock analysts at Oppenheimer from a “market perform” rating to an “outperform” rating in a research note issued on Monday,Briefing.com Automated Import reports. The firm presently has a $12.00 price target on the stock. Oppenheimer’s target price would suggest a potential upside of 41.51% from the company’s current price.

Several other research firms also recently issued reports on FSLY. Royal Bank of Canada boosted their price objective on shares of Fastly from $6.00 to $7.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 7th. Robert W. Baird lifted their price target on Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Raymond James downgraded shares of Fastly from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 1st. Piper Sandler boosted their price target on shares of Fastly from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Craig Hallum increased their price objective on Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $8.35.

Fastly Trading Up 7.1 %

Shares of FSLY opened at $8.48 on Monday. The firm’s 50-day moving average is $7.39 and its two-hundred day moving average is $7.25. The firm has a market capitalization of $1.19 billion, a P/E ratio of -7.78 and a beta of 1.24. Fastly has a twelve month low of $5.52 and a twelve month high of $25.87. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.36.

Fastly (NYSE:FSLY) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.08. The business had revenue of $137.21 million for the quarter, compared to analyst estimates of $131.86 million. Fastly had a negative return on equity of 13.24% and a negative net margin of 27.47%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.33) earnings per share. On average, research analysts predict that Fastly will post -0.87 earnings per share for the current fiscal year.

Insider Activity at Fastly

In other news, CTO Artur Bergman sold 19,889 shares of the company’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 transaction of $118,538.44. Following the sale, the chief technology officer now owns 6,205,000 shares in the company, valued at $36,981,800. This represents a 0.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Todd Nightingale sold 49,816 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 1,600,973 shares of the company’s stock, valued at $10,006,081.25. This trade represents a 3.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 174,439 shares of company stock valued at $1,209,560 in the last three months. Corporate insiders own 6.70% of the company’s stock.

Institutional Trading of Fastly

Several hedge funds and other institutional investors have recently bought and sold shares of FSLY. Point72 DIFC Ltd acquired a new stake in shares of Fastly in the 2nd quarter valued at $38,000. FMR LLC lifted its position in shares of Fastly by 124.2% in the 3rd quarter. FMR LLC now owns 6,357 shares of the company’s stock worth $48,000 after purchasing an additional 3,522 shares during the period. EMC Capital Management grew its holdings in Fastly by 400.0% during the 2nd 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. Daiwa Securities Group Inc. grew its stake in Fastly by 95.3% during the second quarter. Daiwa Securities Group Inc. now owns 8,849 shares of the company’s stock worth $65,000 after purchasing an additional 4,318 shares during the period. Finally, Aigen Investment Management LP acquired a new position in shares of Fastly during the 3rd quarter valued at $89,000. Institutional investors and hedge funds 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.