Piper Sandler Lowers Fastly (NYSE:FSLY) Price Target to $6.00

Fastly (NYSE:FSLY) had its price target cut by Piper Sandler from $9.00 to $6.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s target price would suggest a potential upside of 3.73% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. Citigroup lifted their price objective on shares of Fastly from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. Oppenheimer initiated coverage on shares of Fastly in a research note on Thursday, March 20th. They set a “market perform” rating on the stock. Finally, Royal Bank of Canada cut their price objective on shares of Fastly from $10.00 to $8.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. According to data from MarketBeat, Fastly currently has a consensus rating of “Hold” and a consensus price target of $8.25.

Fastly Stock Performance

FSLY stock opened at $5.78 on Tuesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 3.97 and a current ratio of 3.97. The stock has a market capitalization of $823.06 million, a price-to-earnings ratio of -5.07 and a beta of 1.43. Fastly has a 1 year low of $4.65 and a 1 year high of $14.12. The stock’s fifty day moving average is $7.30 and its two-hundred day moving average is $8.16.

Fastly (NYSE:FSLY) last issued its quarterly earnings data 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%. On average, research analysts predict that Fastly will post -0.78 EPS for the current year.

Insider Buying and Selling

In related news, CFO Ronald W. Kisling sold 12,000 shares of Fastly stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $6.32, for a total value of $75,840.00. Following the transaction, the chief financial officer now owns 671,035 shares of the company’s stock, valued at approximately $4,240,941.20. This trade represents a 1.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Artur Bergman sold 10,000 shares of Fastly 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 directly owns 3,364,136 shares in the company, valued at $35,592,558.88. This represents a 0.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 155,150 shares of company stock valued at $1,356,178 over the last three months. Company insiders own 6.70% of the company’s stock.

Hedge Funds Weigh In On Fastly

Several institutional investors and hedge funds have recently bought and sold shares of the business. 180 Wealth Advisors LLC grew its stake in Fastly by 2.5% during the 4th quarter. 180 Wealth Advisors LLC now owns 68,643 shares of the company’s stock valued at $648,000 after acquiring an additional 1,695 shares in the last quarter. AlphaQuest LLC grew its stake in Fastly by 169.1% during the 4th quarter. AlphaQuest LLC now owns 4,710 shares of the company’s stock valued at $44,000 after acquiring an additional 2,960 shares in the last quarter. Rhumbline Advisers grew its stake in Fastly by 1.6% during the 4th quarter. Rhumbline Advisers now owns 192,131 shares of the company’s stock valued at $1,814,000 after acquiring an additional 3,081 shares in the last quarter. Jones Financial Companies Lllp grew its stake in Fastly by 128.9% during the 4th quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company’s stock valued at $54,000 after acquiring an additional 3,221 shares in the last quarter. Finally, Mariner LLC grew its stake in Fastly by 18.0% during the 4th quarter. Mariner LLC now owns 22,868 shares of the company’s stock valued at $216,000 after acquiring an additional 3,487 shares in the last quarter. Hedge funds and other institutional investors 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.