Brokerages Set Fastly, Inc. (NYSE:FSLY) PT at $19.11

Shares of Fastly, Inc. (NYSE:FSLY) have earned an average rating of “Moderate Buy” from the seven research firms that are covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $19.11.

FSLY has been the topic of a number of recent analyst reports. Citigroup upgraded Fastly from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $11.00 to $20.00 in a research note on Monday, January 22nd. Bank of America lowered their target price on Fastly from $28.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, March 28th. Craig Hallum cut Fastly from a “buy” rating to a “hold” rating and set a $20.00 price objective on the stock. in a research note on Thursday, February 15th. Royal Bank of Canada upgraded Fastly from an “underperform” rating to a “sector perform” rating and boosted their price objective for the company from $12.00 to $18.00 in a research note on Monday, January 8th. Finally, Piper Sandler upgraded Fastly from a “neutral” rating to an “overweight” rating and lowered their price objective for the company from $19.00 to $16.00 in a research note on Monday, April 8th.

Insiders Place Their Bets

In related news, CFO Ronald W. Kisling sold 7,486 shares of the company’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $13.00, for a total transaction of $97,318.00. Following the sale, the chief financial officer now owns 632,736 shares of the company’s stock, valued at $8,225,568. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CFO Ronald W. Kisling sold 7,486 shares of the company’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $13.00, for a total transaction of $97,318.00. Following the sale, the chief financial officer now owns 632,736 shares of the company’s stock, valued at $8,225,568. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Todd Nightingale sold 50,708 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $16.09, for a total transaction of $815,891.72. Following the sale, the chief executive officer now directly owns 1,371,348 shares in the company, valued at approximately $22,064,989.32. The disclosure for this sale can be found here. Insiders sold a total of 221,076 shares of company stock worth $3,620,434 over the last three months. 7.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Qube Research & Technologies Ltd boosted its holdings in shares of Fastly by 77.7% in the 3rd quarter. Qube Research & Technologies Ltd now owns 777,384 shares of the company’s stock valued at $14,902,000 after buying an additional 339,820 shares in the last quarter. Essex Investment Management Co. LLC purchased a new position in Fastly during the 3rd quarter worth approximately $1,942,000. Vanguard Group Inc. raised its position in Fastly by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 12,732,114 shares of the company’s stock worth $244,075,000 after buying an additional 381,845 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in Fastly during the 3rd quarter worth approximately $477,000. Finally, Moody Aldrich Partners LLC purchased a new position in Fastly during the 4th quarter worth approximately $2,155,000. 79.71% of the stock is currently owned by institutional investors.

Fastly Stock Performance

Shares of FSLY stock opened at $12.53 on Friday. The company has a market cap of $1.68 billion, a price-to-earnings ratio of -12.05 and a beta of 1.22. Fastly has a 52 week low of $11.61 and a 52 week high of $25.87. The company has a quick ratio of 3.14, a current ratio of 3.14 and a debt-to-equity ratio of 0.35. The firm has a 50 day moving average of $13.89 and a 200-day moving average of $16.42.

Fastly (NYSE:FSLY) last announced its quarterly earnings data on Wednesday, February 14th. The company reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.05. The company had revenue of $137.78 million during the quarter, compared to the consensus estimate of $139.25 million. Fastly had a negative net margin of 26.30% and a negative return on equity of 16.02%. On average, equities analysts forecast that Fastly will post -1.07 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.