Fastly, Inc. (NASDAQ:FSLY) Stock Has Consensus Price Target of $27.42 According to Brokerages

Fastly, Inc. (NASDAQ:FSLY) has received an average rating of “Hold” from the fifteen research firms that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $27.42.

FSLY has been the subject of a number of recent analyst reports. Bank of America lifted their price target on Fastly from $20.00 to $22.00 and gave the stock an “underperform” rating in a report on Wednesday, September 23rd. Piper Sandler increased their price objective on Fastly from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, August 6th. Royal Bank Of Canada reissued a “sector perform” rating and set a $25.00 target price on shares of Fastly in a research report on Wednesday, September 23rd. KeyCorp reissued an “overweight” rating and set a $30.00 target price on shares of Fastly in a research report on Friday, September 18th. Finally, Raymond James Financial restated an “outperform” rating on shares of Fastly in a research note on Wednesday, September 23rd.

Fastly Price Performance

Shares of FSLY opened at $21.07 on Friday. The firm has a market capitalization of $3.36 billion, a price-to-earnings ratio of -39.75 and a beta of 0.22. The firm’s fifty day simple moving average is $24.34 and its 200-day simple moving average is $21.39. Fastly has a twelve month low of $7.87 and a twelve month high of $34.82. The company has a current ratio of 3.36, a quick ratio of 3.36 and a debt-to-equity ratio of 0.33.

Fastly (NASDAQ:FSLY) last issued its earnings results on Wednesday, August 5th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.08. Fastly had a negative net margin of 11.80% and a negative return on equity of 6.31%. The firm had revenue of $183.32 million during the quarter, compared to the consensus estimate of $173.94 million. Equities analysts forecast that Fastly will post -0.29 EPS for the current fiscal year.

Insider Buying and Selling

In other Fastly news, insider Jeffrey Ford sold 45,832 shares of the firm’s stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $24.65, for a total transaction of $1,129,758.80. Following the sale, the insider owned 249,861 shares of the company’s stock, valued at approximately $6,159,073.65. This trade represents a 15.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Artur Bergman sold 379,602 shares of the business’s stock in a transaction that occurred on Wednesday, September 23rd. The stock was sold at an average price of $30.16, for a total transaction of $11,448,796.32. Following the sale, the chief technology officer owned 1,138,358 shares of the company’s stock, valued at $34,332,877.28. This represents a 25.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,334,973 shares of company stock valued at $35,706,621 over the last three months. 4.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Fastly

Several large investors have recently bought and sold shares of FSLY. Signaturefd LLC increased its position in shares of Fastly by 98,700.0% during the third quarter. Signaturefd LLC now owns 988 shares of the company’s stock worth $25,000 after purchasing an additional 987 shares in the last quarter. IFP Advisors Inc grew its position in shares of Fastly by 1,621.7% during the second quarter. IFP Advisors Inc now owns 1,429 shares of the company’s stock worth $26,000 after acquiring an additional 1,346 shares during the last quarter. GAMMA Investing LLC raised its position in Fastly by 38.4% in the 3rd quarter. GAMMA Investing LLC now owns 1,510 shares of the company’s stock valued at $39,000 after purchasing an additional 419 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Fastly by 84.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,381 shares of the company’s stock worth $40,000 after purchasing an additional 633 shares during the period. Finally, Sound Income Strategies LLC acquired a new stake in Fastly during the 1st quarter worth $44,000. Institutional investors and hedge funds own 79.71% of the company’s stock.

Fastly Company Profile

Fastly, Inc is a technology company that provides an edge cloud platform designed to help businesses deliver, secure, and optimize digital applications and content. Its platform processes data and applications closer to end users, supporting faster performance, improved reliability, and greater control over internet-based services.

Fastly’s products and services include content delivery, application programming interface (API) acceleration, edge computing, application and API security, bot management, distributed denial-of-service protection, and observability tools.