Fastly, Inc. (NYSE:FSLY) Receives $22.63 Average Target Price from Analysts

Shares of Fastly, Inc. (NYSE:FSLY) have been assigned an average recommendation of “Hold” from the eleven brokerages that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $22.6250.

FSLY has been the subject of several analyst reports. Craig Hallum cut Fastly from a “buy” rating to a “hold” rating and set a $24.00 target price for the company. in a research note on Tuesday, April 14th. Raymond James Financial raised Fastly from a “market perform” rating to an “outperform” rating and set a $23.00 target price for the company in a research note on Friday, May 8th. KeyCorp boosted their target price on Fastly from $14.00 to $27.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. William Blair raised Fastly from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 12th. Finally, Evercore initiated coverage on Fastly in a research note on Tuesday, April 14th. They set an “outperform” rating and a $24.00 target price for the company.

Fastly Trading Up 7.2%

FSLY opened at $19.38 on Thursday. Fastly has a 12 month low of $6.29 and a 12 month high of $34.82. The stock has a market capitalization of $3.03 billion, a price-to-earnings ratio of -20.19 and a beta of 0.37. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 1.46. The business has a fifty day moving average price of $23.16 and a 200 day moving average price of $17.25.

Insider Buying and Selling

In other Fastly news, CEO Charles Lacey Compton III sold 34,334 shares of Fastly stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $16.85, for a total transaction of $578,527.90. Following the completion of the sale, the chief executive officer directly owned 1,099,561 shares of the company’s stock, valued at $18,527,602.85. The trade was a 3.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Scott R. Lovett sold 41,682 shares of Fastly stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $26.45, for a total value of $1,102,488.90. Following the sale, the insider directly owned 1,503,878 shares of the company’s stock, valued at $39,777,573.10. This trade represents a 2.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 304,062 shares of company stock valued at $5,988,180 in the last three months. 6.70% of the stock is owned by corporate insiders.

Institutional Trading of Fastly

A number of institutional investors have recently bought and sold shares of FSLY. Penserra Capital Management LLC purchased a new stake in Fastly during the 3rd quarter worth about $61,864,000. Alyeska Investment Group L.P. lifted its holdings in Fastly by 2,795.2% during the 4th quarter. Alyeska Investment Group L.P. now owns 4,789,185 shares of the company’s stock worth $48,754,000 after buying an additional 4,623,767 shares during the last quarter. First Trust Advisors LP lifted its holdings in Fastly by 100.5% during the 1st quarter. First Trust Advisors LP now owns 7,031,952 shares of the company’s stock worth $204,349,000 after buying an additional 3,524,763 shares during the last quarter. Divisadero Street Capital Management LP purchased a new stake in Fastly during the 3rd quarter worth about $21,174,000. Finally, Balyasny Asset Management L.P. lifted its holdings in Fastly by 3,941.1% during the 2nd quarter. Balyasny Asset Management L.P. now owns 1,329,006 shares of the company’s stock worth $9,383,000 after buying an additional 1,296,119 shares during 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 designed to accelerate, secure and enable modern digital experiences. The company offers a suite of services including a content delivery network (CDN), edge compute, load balancing, web application firewall (WAF) and DDoS protection. Fastly’s real-time architecture allows customers to seamlessly deploy software logic at the network edge, reducing latency by bringing applications and content closer to end users.

Founded in 2011 by Artur Bergman, Fastly has evolved from a pure-play CDN provider into a comprehensive edge cloud platform.