Fastly, Inc. (NYSE:FSLY) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Fastly, Inc. (NYSE:FSLY) have been assigned a consensus recommendation of “Hold” from the ten analysts that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $8.55.

FSLY has been the subject of several analyst reports. Piper Sandler increased their price objective on Fastly from $8.00 to $10.00 and gave the company a “neutral” rating in a report on Tuesday. Oppenheimer upgraded Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price target for the company in a research note on Monday. Raymond James lowered Fastly from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 1st. Robert W. Baird increased their price objective on shares of Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Craig Hallum boosted their target price on shares of Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a research report on Thursday, November 7th.

Fastly Trading Up 1.2 %

Shares of NYSE:FSLY opened at $9.93 on Friday. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $1.39 billion, a PE ratio of -9.11 and a beta of 1.27. Fastly has a 12-month low of $5.52 and a 12-month high of $25.87. The business’s fifty day simple moving average is $7.57 and its 200-day simple moving average is $7.30.

Fastly (NYSE:FSLY) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share 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 analysts’ expectations of $131.86 million. Fastly had a negative net margin of 27.47% and a negative return on equity of 13.24%. The company’s revenue was up 7.3% compared to the same quarter last year. During the same period last year, the business earned ($0.33) EPS. As a group, equities research analysts predict that Fastly will post -0.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Fastly

In other news, CFO Ronald W. Kisling sold 7,449 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $7.24, for a total value of $53,930.76. Following the completion of the transaction, the chief financial officer now owns 558,564 shares of the company’s stock, valued at $4,044,003.36. The trade was a 1.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Artur Bergman sold 16,922 shares of Fastly stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $6.25, for a total value of $105,762.50. Following the transaction, the chief technology officer now owns 6,138,900 shares of the company’s stock, valued at approximately $38,368,125. This represents a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 185,600 shares of company stock worth $1,402,681. Company insiders own 6.70% of the company’s stock.

Institutional Trading of Fastly

Hedge funds have recently added to or reduced their stakes in the company. Bank of Montreal Can increased its holdings in Fastly by 11,140.2% in the third quarter. Bank of Montreal Can now owns 1,305,101 shares of the company’s stock valued at $9,867,000 after buying an additional 1,293,490 shares in the last quarter. Penserra Capital Management LLC increased its stake in shares of Fastly by 18.8% in the 3rd quarter. Penserra Capital Management LLC now owns 5,075,127 shares of the company’s stock valued at $38,418,000 after purchasing an additional 801,968 shares in the last quarter. Qsemble Capital Management LP acquired a new position in Fastly in the 2nd quarter worth about $586,000. SG Americas Securities LLC boosted its position in Fastly by 77.5% during the third quarter. SG Americas Securities LLC now owns 221,357 shares of the company’s stock worth $1,676,000 after purchasing an additional 96,664 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in Fastly by 1,197.4% in the second quarter. Marshall Wace LLP now owns 151,172 shares of the company’s stock valued at $1,114,000 after purchasing an additional 139,520 shares during the period. 79.71% of the stock is owned by hedge funds and other institutional investors.

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.