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

Fastly, Inc. (NYSE:FSLY) has received a consensus recommendation of “Hold” from the ten research firms that are currently covering the firm, Marketbeat.com reports. Ten equities research analysts have rated the stock with a hold recommendation. The average 12-month price target among analysts that have issued a report on the stock in the last year is $8.28.

A number of equities research analysts recently issued reports on the company. Oppenheimer started coverage on Fastly in a research report on Thursday, March 20th. They issued a “market perform” rating on the stock. Piper Sandler boosted their price objective on shares of Fastly from $6.00 to $7.00 and gave the stock a “neutral” rating in a research report on Thursday, May 8th. Royal Bank Of Canada raised their target price on shares of Fastly from $5.00 to $6.00 and gave the company a “sector perform” rating in a research report on Thursday, May 8th. KeyCorp upgraded shares of Fastly to a “sector weight” rating in a research note on Thursday, June 5th. Finally, Morgan Stanley increased their price objective on shares of Fastly from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 8th.

Fastly Stock Down 1.6%

Fastly stock opened at $6.86 on Thursday. The company has a 50 day moving average of $6.95 and a 200-day moving average of $7.85. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.16. Fastly has a twelve month low of $4.65 and a twelve month high of $12.08. The stock has a market capitalization of $992.57 million, a PE ratio of -6.29 and a beta of 1.29.

Fastly (NYSE:FSLY) last announced its earnings results on Wednesday, May 7th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. Fastly had a negative net margin of 27.73% and a negative return on equity of 12.29%. The firm had revenue of $144.47 million during the quarter, compared to analyst estimates of $138.40 million. During the same period in the prior year, the business earned ($0.05) EPS. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, equities research analysts anticipate that Fastly will post -0.78 EPS for the current fiscal year.

Insider Transactions at Fastly

In related news, CRO Scott R. Lovett sold 127,608 shares of the business’s stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $6.95, for a total transaction of $886,875.60. Following the transaction, the executive now directly owns 1,287,145 shares of the company’s stock, valued at approximately $8,945,657.75. The trade was a 9.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ronald W. Kisling sold 5,342 shares of the stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $5.26, for a total value of $28,098.92. Following the completion of the sale, the chief financial officer now owns 665,693 shares in the company, valued at approximately $3,501,545.18. This trade represents a 0.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 177,283 shares of company stock worth $1,227,657 in the last ninety days. Insiders own 6.70% of the company’s stock.

Institutional Trading of Fastly

A number of hedge funds have recently modified their holdings of the stock. Banque Transatlantique SA acquired a new stake in Fastly during the 1st quarter worth approximately $38,000. AlphaQuest LLC grew its holdings in Fastly by 169.1% in the 4th quarter. AlphaQuest LLC now owns 4,710 shares of the company’s stock valued at $44,000 after buying an additional 2,960 shares in the last quarter. GAMMA Investing LLC increased its position in Fastly by 451.7% during the 1st quarter. GAMMA Investing LLC now owns 7,261 shares of the company’s stock worth $46,000 after buying an additional 5,945 shares during the period. Geneos Wealth Management Inc. acquired a new stake in shares of Fastly during the first quarter worth $52,000. Finally, Jones Financial Companies Lllp boosted its position in shares of Fastly by 128.9% in the fourth 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 during the period. 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.