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

Fastly, Inc. (NYSE:FSLY) has been assigned an average rating of “Hold” from the ten analysts that are currently covering the firm, MarketBeat.com reports. Ten investment analysts have rated the stock with a hold recommendation. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $8.28.

A number of brokerages have recently issued reports on FSLY. Royal Bank Of Canada increased their price target on shares of Fastly from $5.00 to $6.00 and gave the stock a “sector perform” rating in a report on Thursday, May 8th. KeyCorp upgraded shares of Fastly to a “sector weight” rating in a research note on Thursday, June 5th. Morgan Stanley increased their target price on shares of Fastly from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 8th. Piper Sandler increased their target price on shares of Fastly from $6.00 to $7.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. Finally, Oppenheimer initiated coverage on Fastly in a research note on Thursday, March 20th. They set a “market perform” rating for the company.

Insider Activity at Fastly

In related news, CEO Todd Nightingale sold 12,547 shares of the firm’s stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $7.19, for a total transaction of $90,212.93. Following the transaction, the chief executive officer now directly owns 1,904,388 shares of the company’s stock, valued at approximately $13,692,549.72. This trade represents a 0.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Ronald W. Kisling sold 12,000 shares of Fastly stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $6.32, for a total transaction of $75,840.00. Following the transaction, the chief financial officer now directly owns 671,035 shares in the company, valued at $4,240,941.20. This trade represents a 1.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,675 shares of company stock valued at $340,781 over the last three months. 6.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Rhumbline Advisers increased its stake in Fastly by 1.6% in the 4th quarter. Rhumbline Advisers now owns 192,131 shares of the company’s stock worth $1,814,000 after purchasing an additional 3,081 shares during the period. Oppenheimer & Co. Inc. purchased a new position in shares of Fastly in the fourth quarter worth $149,000. Proficio Capital Partners LLC purchased a new position in shares of Fastly in the fourth quarter worth $181,000. Versor Investments LP purchased a new position in shares of Fastly in the fourth quarter worth $151,000. Finally, Jones Financial Companies Lllp increased its stake in shares of Fastly by 128.9% in the fourth quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company’s stock worth $54,000 after buying an additional 3,221 shares during the period. 79.71% of the stock is owned by hedge funds and other institutional investors.

Fastly Trading Up 2.1%

NYSE:FSLY opened at $6.77 on Thursday. The company has a market cap of $979.70 million, a P/E ratio of -6.21 and a beta of 1.29. The stock’s fifty day moving average price is $6.80 and its two-hundred day moving average price is $7.96. Fastly has a 1 year low of $4.65 and a 1 year high of $12.08. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.50 and a quick ratio of 1.50.

Fastly (NYSE:FSLY) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. The business had revenue of $144.47 million for the quarter, compared to analysts’ expectations of $138.40 million. Fastly had a negative return on equity of 12.29% and a negative net margin of 27.73%. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.05) EPS. As a group, analysts expect that Fastly will post -0.78 EPS 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.