Fastly (NYSE:FSLY) Coverage Initiated by Analysts at Piper Jaffray Companies

Piper Jaffray Companies initiated coverage on shares of Fastly (NYSE:FSLY) in a report released on Wednesday morning, 24/7 WallStreet reports. The brokerage issued an overweight rating and a $21.00 target price on the stock.

A number of other research analysts also recently issued reports on the stock. CIBC began coverage on shares of Fastly in a research report on Tuesday, June 11th. They issued an outperform rating and a $27.00 price objective on the stock. Craig Hallum started coverage on shares of Fastly in a research report on Friday, June 21st. They set a buy rating and a $24.00 target price on the stock. Bank of America started coverage on shares of Fastly in a research report on Tuesday, June 11th. They set a buy rating and a $26.00 target price on the stock. Citigroup started coverage on shares of Fastly in a research report on Wednesday, June 12th. They set a neutral rating and a $23.00 target price on the stock. Finally, Raymond James started coverage on shares of Fastly in a research report on Wednesday, June 12th. They set a market perform rating and a $22.87 target price on the stock. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $25.03.

Shares of Fastly stock opened at $16.39 on Wednesday. The stock has a 50 day moving average price of $20.44. Fastly has a 52-week low of $14.12 and a 52-week high of $25.67.



Fastly (NYSE:FSLY) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.03). The firm had revenue of $46.17 million for the quarter, compared to analysts’ expectations of $45.31 million. During the same quarter in the prior year, the firm posted ($0.20) earnings per share. The firm’s revenue was up 34.0% on a year-over-year basis. As a group, research analysts forecast that Fastly will post -0.58 earnings per share for the current year.

In related news, major shareholder Qualified Master Fund L. Abdiel bought 120,863 shares of the company’s stock in a transaction on Monday, August 5th. The shares were bought at an average price of $19.53 per share, with a total value of $2,360,454.39. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Qualified Master Fund L. Abdiel bought 137,515 shares of the company’s stock in a transaction on Monday, July 15th. The shares were bought at an average cost of $20.32 per share, for a total transaction of $2,794,304.80. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 587,498 shares of company stock worth $11,546,419.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Ladenburg Thalmann Financial Services Inc. acquired a new stake in Fastly during the 2nd quarter valued at approximately $41,000. Pentwater Capital Management LP acquired a new stake in Fastly during the 2nd quarter valued at approximately $142,000. Amundi Pioneer Asset Management Inc. acquired a new stake in Fastly during the 2nd quarter valued at approximately $203,000. NumerixS Investment Technologies Inc acquired a new stake in Fastly during the 2nd quarter valued at approximately $227,000. Finally, Monashee Investment Management LLC acquired a new stake in Fastly during the 2nd quarter valued at approximately $231,000. Institutional investors and hedge funds own 0.02% of the company’s stock.

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Analyst Recommendations for Fastly (NYSE:FSLY)

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