Fastly, Inc. (NYSE:FSLY) Receives Consensus Rating of “Hold” from Brokerages

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

Several analysts have commented on FSLY shares. Citigroup lifted their price target on Fastly from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Friday, January 17th. Royal Bank of Canada dropped their price objective on shares of Fastly from $10.00 to $8.00 and set a “sector perform” rating for the company in a research report on Thursday, February 13th. Piper Sandler restated a “neutral” rating and set a $9.00 target price (down previously from $10.00) on shares of Fastly in a report on Thursday, February 13th. Finally, Oppenheimer upgraded Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price target for the company in a report on Monday, December 2nd.

Fastly Stock Up 6.2 %

FSLY stock opened at $7.28 on Tuesday. The company’s 50 day simple moving average is $8.62 and its 200-day simple moving average is $8.20. The firm has a market capitalization of $1.04 billion, a PE ratio of -6.38 and a beta of 1.31. 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 has a 12 month low of $5.52 and a 12 month high of $14.12.

Fastly (NYSE:FSLY) last issued its quarterly earnings results on Wednesday, February 12th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.22). Fastly had a negative return on equity of 12.75% and a negative net margin of 29.07%. Equities analysts expect that Fastly will post -0.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Ronald W. Kisling sold 12,500 shares of Fastly stock in a transaction on Monday, January 6th. The shares were sold at an average price of $10.00, for a total value of $125,000.00. Following the completion of the sale, the chief financial officer now owns 525,850 shares in the company, valued at approximately $5,258,500. The trade was a 2.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Artur Bergman sold 5,304 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $6.88, for a total transaction of $36,491.52. Following the transaction, the chief technology officer now owns 3,669,058 shares in the company, valued at $25,243,119.04. This trade represents a 0.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 177,099 shares of company stock worth $1,627,884. 6.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Fastly

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Fastly by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 15,289,861 shares of the company’s stock worth $144,336,000 after buying an additional 103,440 shares during the last quarter. Legal & General Group Plc raised its position in shares of Fastly by 2.4% during the 4th quarter. Legal & General Group Plc now owns 8,025,959 shares of the company’s stock valued at $75,765,000 after acquiring an additional 189,667 shares in the last quarter. Penserra Capital Management LLC lifted its stake in Fastly by 18.8% during the third quarter. Penserra Capital Management LLC now owns 5,075,127 shares of the company’s stock worth $38,418,000 after purchasing an additional 801,968 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in Fastly in the fourth quarter worth $35,334,000. Finally, First Trust Advisors LP increased its stake in Fastly by 4.9% during the fourth quarter. First Trust Advisors LP now owns 3,139,255 shares of the company’s stock valued at $29,635,000 after purchasing an additional 147,458 shares during the last quarter. 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.