Morgan Stanley Has Lowered Expectations for Fastly (NYSE:FSLY) Stock Price

Fastly (NYSE:FSLY) had its target price reduced by Morgan Stanley from $8.00 to $7.00 in a research report released on Wednesday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other analysts also recently issued reports on the company. Citigroup lifted their price objective on Fastly from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. Piper Sandler reduced their price target on shares of Fastly from $9.00 to $6.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Oppenheimer started coverage on shares of Fastly in a research report on Thursday, March 20th. They set a “market perform” rating for the company. Finally, Royal Bank of Canada reduced their target price on shares of Fastly from $10.00 to $8.00 and set a “sector perform” rating on the stock in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating and nine have issued a hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $8.25.

Fastly Price Performance

Shares of NYSE:FSLY opened at $5.35 on Wednesday. The firm has a market cap of $761.31 million, a price-to-earnings ratio of -4.69 and a beta of 1.43. The firm has a fifty day moving average price of $6.82 and a 200 day moving average price of $8.09. Fastly has a fifty-two week low of $4.65 and a fifty-two week high of $13.36. The company has a debt-to-equity ratio of 0.36, a quick ratio of 3.97 and a current ratio of 3.97.

Fastly (NYSE:FSLY) last released its quarterly earnings data on Wednesday, February 12th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.22). Fastly had a negative net margin of 29.07% and a negative return on equity of 12.75%. As a group, sell-side analysts expect that Fastly will post -0.78 earnings per share for the current fiscal year.

Insider Activity

In other news, CTO Artur Bergman sold 10,000 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $10.58, for a total transaction of $105,800.00. Following the completion of the sale, the chief technology officer now directly owns 3,364,136 shares of the company’s stock, valued at approximately $35,592,558.88. The trade was a 0.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Ronald W. Kisling sold 12,000 shares of the firm’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $6.32, for a total transaction of $75,840.00. Following the completion of the transaction, the chief financial officer now directly owns 671,035 shares in the company, valued at $4,240,941.20. This represents a 1.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 149,112 shares of company stock valued at $1,299,119. 6.70% of the stock is currently owned by insiders.

Institutional Trading of Fastly

Large investors have recently modified their holdings of the company. AlphaQuest LLC raised its position 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 purchasing an additional 2,960 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Fastly by 451.7% during the first quarter. GAMMA Investing LLC now owns 7,261 shares of the company’s stock valued at $46,000 after buying an additional 5,945 shares during the period. FMR LLC raised its holdings in shares of Fastly by 124.2% in the third quarter. FMR LLC now owns 6,357 shares of the company’s stock valued at $48,000 after acquiring an additional 3,522 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in Fastly by 128.9% in the fourth quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company’s stock worth $54,000 after acquiring an additional 3,221 shares during the period. Finally, Wealthfront Advisers LLC purchased a new stake in Fastly in the fourth quarter worth about $72,000. 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.