Fastly, Inc. (NYSE:FSLY) Receives $8.69 Consensus Price Target from Brokerages

Fastly, Inc. (NYSE:FSLY) has been given a consensus rating of “Hold” by the ten analysts that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $8.6875.

FSLY has been the topic of a number of recent research reports. Craig Hallum upgraded shares of Fastly from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research note on Thursday, August 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Fastly in a research note on Wednesday, October 8th. Finally, Royal Bank Of Canada upped their price target on shares of Fastly from $6.00 to $7.00 and gave the company a “sector perform” rating in a research note on Thursday, August 7th.

Insider Activity at Fastly

In related news, insider Scott R. Lovett sold 42,172 shares of the company’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $8.41, for a total transaction of $354,666.52. Following the sale, the insider directly owned 1,088,551 shares in the company, valued at approximately $9,154,713.91. This represents a 3.73% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Charles Lacey Compton III sold 11,378 shares of the company’s stock in a transaction that occurred on Thursday, October 16th. The shares were sold at an average price of $8.41, for a total transaction of $95,688.98. Following the sale, the chief executive officer owned 659,313 shares in the company, valued at $5,544,822.33. The trade was a 1.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 557,933 shares of company stock worth $4,492,359. 6.70% of the stock is owned by corporate insiders.

Institutional Trading of Fastly

Several institutional investors and hedge funds have recently bought and sold shares of FSLY. GAMMA Investing LLC lifted its stake in Fastly by 451.7% in the 1st quarter. GAMMA Investing LLC now owns 7,261 shares of the company’s stock worth $46,000 after purchasing an additional 5,945 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in Fastly in the 1st quarter worth approximately $91,000. Oppenheimer & Co. Inc. lifted its stake in Fastly by 423.0% in the 1st quarter. Oppenheimer & Co. Inc. now owns 82,628 shares of the company’s stock worth $523,000 after purchasing an additional 66,828 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Fastly by 12.4% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,852 shares of the company’s stock worth $113,000 after purchasing an additional 1,975 shares in the last quarter. Finally, Teacher Retirement System of Texas purchased a new stake in Fastly in the 1st quarter worth approximately $123,000. 79.71% of the stock is currently owned by hedge funds and other institutional investors.

Fastly Stock Up 2.0%

Fastly stock opened at $8.33 on Wednesday. Fastly has a twelve month low of $4.65 and a twelve month high of $12.08. The firm has a 50 day moving average price of $8.05 and a 200-day moving average price of $7.24. The company has a market capitalization of $1.23 billion, a P/E ratio of -8.08 and a beta of 1.30. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.16.

Fastly (NYSE:FSLY) last released its earnings results on Wednesday, August 6th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. Fastly had a negative net margin of 25.85% and a negative return on equity of 11.98%. The firm had revenue of $148.71 million during the quarter, compared to the consensus estimate of $144.86 million. During the same period in the prior year, the firm earned ($0.07) EPS. The company’s revenue was up 12.3% compared to the same quarter last year. As a group, equities analysts predict that Fastly will post -0.78 EPS for the current year.

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.