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

Fastly, Inc. (NYSE:FSLY) has earned an average rating of “Reduce” from the ten ratings firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $8.55.

Several analysts have issued reports on the company. Oppenheimer began coverage on Fastly in a research note on Thursday, March 20th. They issued a “market perform” rating on the stock. Citigroup upped their price objective on shares of Fastly from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Friday, January 17th. Piper Sandler reiterated a “neutral” rating and issued a $9.00 target price (down previously from $10.00) on shares of Fastly in a research note on Thursday, February 13th. Finally, Royal Bank of Canada dropped their price target on shares of Fastly from $10.00 to $8.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 13th.

Fastly Stock Down 13.2 %

Shares of NYSE:FSLY opened at $5.16 on Friday. Fastly has a 1 year low of $5.01 and a 1 year high of $14.12. The company has a market capitalization of $733.56 million, a PE ratio of -4.52 and a beta of 1.43. The business has a fifty day moving average price of $7.82 and a two-hundred day moving average price of $8.23. 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 (NYSE:FSLY) last issued its quarterly earnings results on Wednesday, February 12th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.22). Fastly had a negative return on equity of 12.75% and a negative net margin of 29.07%. Analysts forecast that Fastly will post -0.78 earnings per share for the current year.

Insider Buying and Selling at Fastly

In other news, CTO Artur Bergman sold 8,049 shares of Fastly stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $10.04, for a total transaction of $80,811.96. Following the completion of the sale, the chief technology officer now owns 3,426,087 shares in the company, valued at approximately $34,397,913.48. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Ronald W. Kisling sold 12,000 shares of the business’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $6.32, for a total value of $75,840.00. Following the transaction, the chief financial officer now directly owns 671,035 shares of the company’s stock, valued at $4,240,941.20. The trade was a 1.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 175,699 shares of company stock valued at $1,561,990 in the last three months. Company insiders own 6.70% of the company’s stock.

Institutional Trading of Fastly

A number of hedge funds have recently made changes to their positions in FSLY. Quadrature Capital Ltd raised its position in Fastly by 84.2% during the third quarter. Quadrature Capital Ltd now owns 112,085 shares of the company’s stock valued at $848,000 after purchasing an additional 51,224 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Fastly during the 3rd quarter valued at about $400,000. Zacks Investment Management purchased a new position in shares of Fastly during the 3rd quarter valued at about $914,000. Jacobs Levy Equity Management Inc. bought a new stake in Fastly in the 3rd quarter worth approximately $679,000. Finally, Swiss National Bank boosted its stake in Fastly by 2.2% in the fourth quarter. Swiss National Bank now owns 259,000 shares of the company’s stock worth $2,445,000 after buying an additional 5,500 shares in the last quarter. 79.71% of the stock is owned by institutional investors.

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.