Fastly (NYSE:FSLY) Given Neutral Rating at Piper Sandler

Piper Sandler reissued their neutral rating on shares of Fastly (NYSE:FSLY) in a research note released on Thursday,Benzinga reports. They currently have a $9.00 price target on the stock, down from their prior price target of $10.00.

A number of other equities research analysts have also weighed in on the stock. Craig Hallum boosted their target price 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 raised shares of Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 target price on the stock in a report on Monday, December 2nd. Royal Bank of Canada boosted their target price on shares of Fastly from $7.00 to $10.00 and gave the stock a “sector perform” rating in a report on Friday, January 3rd. Robert W. Baird upped their price objective on shares of Fastly from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, DA Davidson upped their price objective on shares of Fastly from $5.50 to $7.50 and gave the company a “neutral” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $8.55.

Fastly Trading Down 20.9 %

FSLY opened at $7.97 on Thursday. Fastly has a fifty-two week low of $5.52 and a fifty-two week high of $23.68. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.97 and a quick ratio of 3.97. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of -7.31 and a beta of 1.26. The company’s 50 day moving average price is $10.03 and its two-hundred day moving average price is $8.11.

Fastly (NYSE:FSLY) last posted its earnings results 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 return on equity of 13.24% and a negative net margin of 27.47%. As a group, research analysts predict that Fastly will post -0.86 earnings per share for the current year.

Insider Activity at Fastly

In related news, CTO Artur Bergman sold 3,400 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $12.01, for a total transaction of $40,834.00. Following the transaction, the chief technology officer now owns 3,444,136 shares in the company, valued at $41,364,073.36. The trade was a 0.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Todd Nightingale sold 49,816 shares of the business’s stock in a transaction 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 owns 1,600,973 shares in the company, valued at $10,006,081.25. The trade was a 3.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 260,152 shares of company stock worth $2,287,883 in the last quarter. Company insiders own 6.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. AlphaQuest LLC raised its holdings in Fastly by 169.1% during the fourth quarter. AlphaQuest LLC now owns 4,710 shares of the company’s stock worth $44,000 after buying an additional 2,960 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in Fastly by 128.9% during the fourth quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company’s stock worth $54,000 after buying an additional 3,221 shares during the last quarter. FMR LLC raised its holdings in Fastly by 124.2% during the third quarter. FMR LLC now owns 6,357 shares of the company’s stock worth $48,000 after buying an additional 3,522 shares during the last quarter. Wealthfront Advisers LLC acquired a new position in Fastly during the fourth quarter worth $72,000. Finally, Canada Pension Plan Investment Board acquired a new position in Fastly during the fourth quarter worth $82,000. Institutional investors and hedge funds own 79.71% of the company’s stock.

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.