Analysts Set Fastly, Inc. (NYSE:FSLY) PT at $8.55

Shares of Fastly, Inc. (NYSE:FSLY) have received a consensus recommendation of “Hold” from the ten ratings firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $8.55.

A number of analysts have recently weighed in on FSLY shares. Oppenheimer upgraded Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 target price for the company in a research report on Monday, December 2nd. Royal Bank of Canada cut their target price on Fastly from $10.00 to $8.00 and set a “sector perform” rating for the company in a research report on Thursday, February 13th. DA Davidson upped their target price on Fastly from $5.50 to $7.50 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Craig Hallum upped their price objective on Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a research report on Thursday, November 7th. Finally, Piper Sandler restated a “neutral” rating and set a $9.00 price objective (down from $10.00) on shares of Fastly in a research report on Thursday, February 13th.

Fastly Price Performance

Shares of NYSE FSLY opened at $7.83 on Friday. The business has a fifty day moving average price of $9.72 and a two-hundred day moving average price of $8.12. The stock has a market capitalization of $1.10 billion, a PE ratio of -6.86 and a beta of 1.26. 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 has a fifty-two week low of $5.52 and a fifty-two week high of $15.03.

Fastly (NYSE:FSLY) last released its earnings results on Wednesday, February 12th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.22). Fastly had a negative net margin of 29.07% and a negative return on equity of 12.75%. As a group, equities analysts predict that Fastly will post -0.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Fastly news, CTO Artur Bergman sold 10,000 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $10.58, for a total value of $105,800.00. Following the completion of the transaction, the chief technology officer now owns 3,364,136 shares of the company’s stock, valued at $35,592,558.88. This represents a 0.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Todd Nightingale sold 12,163 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $8.12, for a total value of $98,763.56. Following the completion of the transaction, the chief executive officer now directly owns 1,588,810 shares of the company’s stock, valued at approximately $12,901,137.20. The trade was a 0.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 177,312 shares of company stock valued at $1,770,133 in the last 90 days. Corporate insiders own 6.70% of the company’s stock.

Institutional Investors Weigh In On Fastly

Several institutional investors and hedge funds have recently made changes to their positions in FSLY. Alyeska Investment Group L.P. acquired a new stake in shares of Fastly in the fourth quarter valued at about $35,334,000. Bank of Montreal Can increased its stake in shares of Fastly by 11,140.2% in the third quarter. Bank of Montreal Can now owns 1,305,101 shares of the company’s stock valued at $9,867,000 after buying an additional 1,293,490 shares during the period. Marshall Wace LLP acquired a new stake in shares of Fastly in the fourth quarter valued at about $7,618,000. Penserra Capital Management LLC increased its stake in shares of Fastly by 18.8% in the third quarter. Penserra Capital Management LLC now owns 5,075,127 shares of the company’s stock valued at $38,418,000 after buying an additional 801,968 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Fastly in the fourth quarter valued at about $7,088,000. Institutional investors and hedge funds own 79.71% of the company’s stock.

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.