Fastly (NYSE:FSLY) PT Lowered to $8.00

Fastly (NYSE:FSLYFree Report) had its target price trimmed by Raymond James from $13.00 to $8.00 in a research report report published on Thursday morning, Benzinga reports. The firm currently has a strong-buy rating on the stock.

Several other research analysts also recently weighed in on FSLY. Citigroup lowered their price target on shares of Fastly from $15.00 to $10.00 and set a neutral rating for the company in a report on Thursday, May 9th. Bank of America lowered shares of Fastly from a buy rating to an underperform rating and lowered their target price for the company from $18.00 to $8.00 in a research note on Thursday, May 2nd. Piper Sandler downgraded shares of Fastly from an overweight rating to a neutral rating and reduced their price target for the stock from $10.00 to $6.00 in a research report on Thursday. DA Davidson lowered shares of Fastly from a buy rating to a neutral rating and decreased their price target for the company from $24.00 to $8.50 in a report on Thursday, May 2nd. Finally, Royal Bank of Canada dropped their price objective on shares of Fastly from $18.00 to $9.00 and set a sector perform rating on the stock in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Hold and an average target price of $7.93.

Check Out Our Latest Report on Fastly

Fastly Stock Up 7.4 %

Shares of NYSE:FSLY traded up $0.42 during midday trading on Thursday, hitting $6.09. 3,334,981 shares of the company’s stock traded hands, compared to its average volume of 3,825,502. The firm’s fifty day moving average price is $7.41 and its two-hundred day moving average price is $11.46. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.83 and a current ratio of 3.83. Fastly has a twelve month low of $5.52 and a twelve month high of $25.87. The company has a market cap of $832.13 million, a PE ratio of -6.09 and a beta of 1.13.

Fastly (NYSE:FSLYGet Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. Fastly had a negative return on equity of 15.82% and a negative net margin of 25.26%. The company had revenue of $132.37 million for the quarter, compared to analysts’ expectations of $131.62 million. During the same quarter in the previous year, the firm posted ($0.32) earnings per share. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. On average, equities research analysts anticipate that Fastly will post -1.08 EPS for the current fiscal year.

Insider Activity at Fastly

In other Fastly news, CFO Ronald W. Kisling sold 7,449 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $8.84, for a total value of $65,849.16. Following the transaction, the chief financial officer now owns 586,057 shares of the company’s stock, valued at $5,180,743.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Fastly news, CFO Ronald W. Kisling sold 7,449 shares of Fastly stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $8.84, for a total transaction of $65,849.16. Following the transaction, the chief financial officer now directly owns 586,057 shares in the company, valued at approximately $5,180,743.88. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Ronald W. Kisling sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $7.27, for a total value of $87,240.00. Following the completion of the sale, the chief financial officer now directly 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. Insiders sold a total of 135,217 shares of company stock valued at $1,176,853 over the last ninety days. 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 business. Vanguard Group Inc. boosted its holdings in Fastly by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 13,581,524 shares of the company’s stock valued at $176,152,000 after purchasing an additional 657,334 shares during the period. First Trust Advisors LP lifted its position in Fastly by 21.8% during the 4th quarter. First Trust Advisors LP now owns 5,586,706 shares of the company’s stock worth $99,443,000 after buying an additional 998,749 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Fastly by 9.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,906,860 shares of the company’s stock worth $33,942,000 after acquiring an additional 162,659 shares during the last quarter. Jennison Associates LLC bought a new position in Fastly in the 1st quarter worth approximately $13,724,000. Finally, CANADA LIFE ASSURANCE Co increased its stake in shares of Fastly by 94.4% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 960,864 shares of the company’s stock valued at $12,453,000 after buying an additional 466,560 shares during the period. 79.71% of the stock is owned by institutional investors and hedge funds.

About Fastly

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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.

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