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

Fastly, Inc. (NYSE:FSLY) has received a consensus recommendation of “Hold” from the ten analysts that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $8.55.

A number of research analysts recently issued reports on FSLY shares. Piper Sandler restated a “neutral” rating and set a $9.00 target price (down from $10.00) on shares of Fastly in a research report on Thursday, February 13th. Oppenheimer raised Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price objective for the company in a report on Monday, December 2nd. Royal Bank of Canada dropped their target price on Fastly from $10.00 to $8.00 and set a “sector perform” rating on the stock in a report on Thursday, February 13th. Finally, Citigroup boosted their price target on Fastly from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Friday, January 17th.

Insider Transactions at Fastly

In other news, CTO Artur Bergman sold 3,400 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $12.01, for a total transaction of $40,834.00. Following the completion of the sale, the chief technology officer now owns 3,444,136 shares of the company’s stock, valued at $41,364,073.36. The trade was a 0.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Todd Nightingale sold 8,595 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $6.87, for a total transaction of $59,047.65. Following the completion of the transaction, the chief executive officer now directly owns 1,544,706 shares in the company, valued at $10,612,130.22. This represents a 0.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 177,099 shares of company stock valued at $1,627,884 in the last three months. 6.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Fastly

Hedge funds have recently made changes to their positions in the company. 180 Wealth Advisors LLC lifted its stake in shares of Fastly by 2.5% in the fourth quarter. 180 Wealth Advisors LLC now owns 68,643 shares of the company’s stock worth $648,000 after buying an additional 1,695 shares in the last quarter. AlphaQuest LLC raised 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 acquiring an additional 2,960 shares during the last quarter. Rhumbline Advisers lifted its stake in Fastly by 1.6% in the 4th quarter. Rhumbline Advisers now owns 192,131 shares of the company’s stock worth $1,814,000 after purchasing an additional 3,081 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Fastly by 128.9% during the 4th quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company’s stock worth $54,000 after purchasing an additional 3,221 shares during the last quarter. Finally, Mariner LLC grew its position in shares of Fastly by 18.0% in the fourth quarter. Mariner LLC now owns 22,868 shares of the company’s stock valued at $216,000 after purchasing an additional 3,487 shares in the last quarter. Institutional investors and hedge funds own 79.71% of the company’s stock.

Fastly Stock Up 3.4 %

Shares of FSLY stock opened at $6.83 on Tuesday. Fastly has a fifty-two week low of $5.52 and a fifty-two week high of $14.12. The firm has a market capitalization of $971.20 million, a PE ratio of -5.99 and a beta of 1.31. The company has a debt-to-equity ratio of 0.36, a quick ratio of 3.97 and a current ratio of 3.97. The stock’s 50-day simple moving average is $8.67 and its 200-day simple moving average is $8.18.

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

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.