Fastly (NYSE:FSLY) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Fastly (NYSE:FSLY) had its price objective raised by Robert W. Baird from $7.00 to $8.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other research firms have also issued reports on FSLY. Piper Sandler raised their price objective on Fastly from $6.00 to $8.00 and gave the company a “neutral” rating in a research note on Thursday. Morgan Stanley dropped their price objective on shares of Fastly from $12.00 to $7.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 27th. Raymond James downgraded shares of Fastly from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, October 1st. Craig Hallum dropped their price target on shares of Fastly from $10.00 to $6.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Finally, Royal Bank of Canada increased their price objective on shares of Fastly from $6.00 to $7.00 and gave the stock a “sector perform” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat, Fastly currently has an average rating of “Hold” and an average target price of $7.94.

Fastly Price Performance

FSLY traded down $0.50 during trading hours on Thursday, hitting $7.67. The company’s stock had a trading volume of 4,691,265 shares, compared to its average volume of 2,557,700. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of -7.04 and a beta of 1.24. The business’s 50-day moving average price is $7.09 and its 200-day moving average price is $7.61. The company has a current ratio of 4.13, a quick ratio of 4.13 and a debt-to-equity ratio of 0.35. Fastly has a 12 month low of $5.52 and a 12 month high of $25.87.

Fastly (NYSE:FSLY) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.08. The business had revenue of $137.21 million during 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 13.19%. The business’s revenue was up 7.3% on a year-over-year basis. During the same period last year, the company posted ($0.33) EPS. Sell-side analysts expect that Fastly will post -0.96 earnings per share for the current fiscal year.

Insider Transactions at Fastly

In related news, CTO Artur Bergman sold 19,889 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $5.96, for a total value of $118,538.44. Following the completion of the sale, the chief technology officer now owns 6,205,000 shares in the company, valued at approximately $36,981,800. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CTO Artur Bergman sold 19,889 shares of Fastly stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $5.96, for a total value of $118,538.44. Following the completion of the sale, the chief technology officer now directly owns 6,205,000 shares in the company, valued at $36,981,800. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Ronald W. Kisling sold 7,449 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $7.24, for a total transaction of $53,930.76. Following the completion of the sale, the chief financial officer now directly owns 558,564 shares of the company’s stock, valued at approximately $4,044,003.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 192,628 shares of company stock valued at $1,287,959. 6.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Fastly

Institutional investors have recently bought and sold shares of the business. Point72 DIFC Ltd bought a new stake in Fastly during the 2nd quarter valued at $38,000. Cambridge Trust Co. bought a new stake in Fastly during the first quarter valued at about $39,000. Cape Investment Advisory Inc. boosted its position in Fastly by 27,666.7% during the first quarter. Cape Investment Advisory Inc. now owns 4,165 shares of the company’s stock valued at $54,000 after purchasing an additional 4,150 shares in the last quarter. EMC Capital Management grew its stake in Fastly by 400.0% in the second quarter. EMC Capital Management now owns 7,500 shares of the company’s stock valued at $54,000 after purchasing an additional 6,000 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in Fastly by 95.3% in the second quarter. Daiwa Securities Group Inc. now owns 8,849 shares of the company’s stock worth $65,000 after purchasing an additional 4,318 shares in the last quarter. 79.71% of the stock is owned by hedge funds and other 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.