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

Fastly, Inc. (NYSE:FSLY) has been assigned an average rating of “Hold” from the ten ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $8.85.

Several brokerages have commented on FSLY. Raymond James lowered Fastly from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 1st. DA Davidson lifted their price target on shares of Fastly from $5.50 to $7.50 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Craig Hallum upped their price objective on shares of Fastly from $6.00 to $8.00 and gave the stock a “hold” rating in a report on Thursday, November 7th. Oppenheimer upgraded shares of Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 target price for the company in a report on Monday, December 2nd. Finally, Robert W. Baird boosted their price target on Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th.

Fastly Trading Down 1.8 %

Shares of FSLY opened at $10.26 on Monday. Fastly has a 1-year low of $5.52 and a 1-year high of $25.87. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.36. The firm’s 50-day moving average price is $9.35 and its 200-day moving average price is $7.86. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of -9.41 and a beta of 1.24.

Fastly (NYSE:FSLY) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.08. Fastly had a negative return on equity of 13.24% and a negative net margin of 27.47%. The business had revenue of $137.21 million for the quarter, compared to analysts’ expectations of $131.86 million. During the same period in the previous year, the firm posted ($0.33) EPS. The business’s revenue was up 7.3% on a year-over-year basis. Sell-side analysts anticipate that Fastly will post -0.86 EPS for the current year.

Insider Buying and Selling at Fastly

In other news, CTO Artur Bergman sold 49,178 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $8.07, for a total transaction of $396,866.46. Following the sale, the chief technology officer now owns 6,155,822 shares of the company’s stock, valued at $49,677,483.54. This trade represents a 0.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Todd Nightingale sold 49,816 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $6.25, for a total transaction of $311,350.00. Following the transaction, the chief executive officer now directly owns 1,600,973 shares of the company’s stock, valued at $10,006,081.25. The trade was a 3.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 247,779 shares of company stock worth $2,050,359. Insiders own 6.70% of the company’s stock.

Hedge Funds Weigh In On Fastly

Hedge funds and other institutional investors have recently modified their holdings of the company. Commonwealth Equity Services LLC increased its position in Fastly by 59.4% during the second quarter. Commonwealth Equity Services LLC now owns 48,987 shares of the company’s stock valued at $361,000 after acquiring an additional 18,258 shares during the last quarter. Rhumbline Advisers increased its position in shares of Fastly by 8.5% during the 2nd quarter. Rhumbline Advisers now owns 189,832 shares of the company’s stock valued at $1,399,000 after purchasing an additional 14,813 shares during the last quarter. Hsbc Holdings PLC lifted its stake in shares of Fastly by 118.9% in the 2nd quarter. Hsbc Holdings PLC now owns 29,703 shares of the company’s stock worth $218,000 after purchasing an additional 16,131 shares during the period. Ensign Peak Advisors Inc lifted its stake in shares of Fastly by 11.1% in the 2nd quarter. Ensign Peak Advisors Inc now owns 59,258 shares of the company’s stock worth $437,000 after purchasing an additional 5,900 shares during the period. Finally, Lombard Odier Asset Management USA Corp bought a new stake in Fastly during the second quarter valued at approximately $114,000. 79.71% of the stock is owned by institutional investors.

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.