Fastly, Inc. (NYSE:FSLY) Receives Average Rating of “Hold” from Analysts

Fastly, Inc. (NYSE:FSLY) has been assigned a consensus rating of “Hold” from the eight analysts that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $14.61.

A number of research analysts have recently issued reports on the stock. Bank of America downgraded shares of Fastly from a “buy” rating to an “underperform” rating and dropped their price target for the stock from $18.00 to $8.00 in a research report on Thursday, May 2nd. Royal Bank of Canada reduced their price objective on Fastly from $18.00 to $9.00 and set a “sector perform” rating for the company in a research note on Thursday, May 2nd. Citigroup lowered their target price on Fastly from $15.00 to $10.00 and set a “neutral” rating on the stock in a research report on Thursday, May 9th. Piper Sandler raised shares of Fastly from a “neutral” rating to an “overweight” rating and reduced their price target for the company from $19.00 to $16.00 in a research report on Monday, April 8th. Finally, DA Davidson downgraded shares of Fastly from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $24.00 to $8.50 in a report on Thursday, May 2nd.

Fastly Stock Down 1.0 %

NYSE FSLY opened at $7.20 on Friday. The business has a fifty day moving average price of $9.94 and a two-hundred day moving average price of $14.48. The stock has a market capitalization of $983.81 million, a PE ratio of -7.20 and a beta of 1.11. Fastly has a fifty-two week low of $7.09 and a fifty-two week high of $25.87. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.83 and a quick ratio of 3.83.

Fastly (NYSE:FSLY) last issued its quarterly earnings results on Wednesday, May 1st. The company reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.02. The company had revenue of $133.52 million during the quarter, compared to analysts’ expectations of $133.01 million. Fastly had a negative return on equity of 15.82% and a negative net margin of 25.26%. Equities analysts expect that Fastly will post -1.08 earnings per share for the current fiscal year.

Insider Transactions at Fastly

In other Fastly news, CFO Ronald W. Kisling sold 2,919 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $8.92, for a total transaction of $26,037.48. Following the sale, the chief financial officer now directly owns 606,712 shares of the company’s stock, valued at $5,411,871.04. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Ronald W. Kisling sold 2,919 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $8.92, for a total value of $26,037.48. Following the completion of the transaction, the chief financial officer now directly owns 606,712 shares of the company’s stock, valued at $5,411,871.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ronald W. Kisling sold 7,486 shares of Fastly stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $13.00, for a total value of $97,318.00. Following the completion of the transaction, the chief financial officer now owns 632,736 shares of the company’s stock, valued at $8,225,568. The disclosure for this sale can be found here. In the last 90 days, insiders sold 135,254 shares of company stock worth $1,276,122. 6.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Fastly

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Cambridge Trust Co. purchased a new position in Fastly during the first quarter valued at approximately $39,000. Vista Investment Partners LLC purchased a new position in shares of Fastly during the 1st quarter valued at $1,107,000. Price T Rowe Associates Inc. MD grew its position in shares of Fastly by 5.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 82,371 shares of the company’s stock valued at $1,069,000 after purchasing an additional 4,498 shares in the last quarter. EntryPoint Capital LLC increased its holdings in shares of Fastly by 41.1% in the first quarter. EntryPoint Capital LLC now owns 5,644 shares of the company’s stock worth $73,000 after purchasing an additional 1,643 shares during the period. Finally, CANADA LIFE ASSURANCE Co raised its position in shares of Fastly by 94.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 960,864 shares of the company’s stock worth $12,453,000 after buying an additional 466,560 shares in the last quarter. 79.71% of the stock is currently owned by 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.