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

Shares of Fastly, Inc. (NYSE:FSLY) have received an average rating of “Hold” from the ten analysts that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $8.55.

Several equities analysts have recently issued reports on the stock. Citigroup upped their price objective on shares of Fastly from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Friday, January 17th. Royal Bank of Canada lowered their price target on shares of Fastly from $10.00 to $8.00 and set a “sector perform” rating on the stock in a report on Thursday, February 13th. Oppenheimer raised Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price objective on the stock in a report on Monday, December 2nd. Finally, Piper Sandler reissued a “neutral” rating and set a $9.00 target price (down previously from $10.00) on shares of Fastly in a research note on Thursday, February 13th.

Fastly Stock Performance

Shares of FSLY stock opened at $7.28 on Tuesday. Fastly has a 52-week low of $5.52 and a 52-week high of $14.12. The company’s 50 day moving average is $8.62 and its 200 day moving average is $8.20. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of -6.38 and a beta of 1.31. The company has a quick ratio of 3.97, a current ratio of 3.97 and a debt-to-equity ratio of 0.36.

Fastly (NYSE:FSLY) last issued its quarterly earnings data on Wednesday, February 12th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.22). Fastly had a negative return on equity of 12.75% and a negative net margin of 29.07%. On average, sell-side analysts anticipate that Fastly will post -0.78 EPS for the current fiscal year.

Insider Activity

In other news, CEO Todd Nightingale sold 35,509 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $8.04, for a total value of $285,492.36. Following the sale, the chief executive officer now directly owns 1,553,301 shares of the company’s stock, valued at approximately $12,488,540.04. The trade was a 2.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Artur Bergman sold 3,400 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $12.01, for a total value of $40,834.00. Following the transaction, the chief technology officer now owns 3,444,136 shares of the company’s stock, valued at approximately $41,364,073.36. This represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 177,099 shares of company stock valued at $1,627,884. 6.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Entropy Technologies LP increased its position in shares of Fastly by 118.7% in the 3rd quarter. Entropy Technologies LP now owns 39,803 shares of the company’s stock valued at $301,000 after purchasing an additional 21,600 shares during the last quarter. Aigen Investment Management LP purchased a new stake in shares of Fastly during the third quarter worth approximately $89,000. Intech Investment Management LLC purchased a new stake in shares of Fastly during the third quarter worth approximately $328,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Fastly by 18.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,057,642 shares of the company’s stock worth $8,006,000 after acquiring an additional 161,070 shares during the period. Finally, Penserra Capital Management LLC lifted its position in 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 purchasing an additional 801,968 shares during the period. 79.71% of the stock is currently owned by hedge funds and other 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.