Fastly, Inc. (NYSE:FSLY) Given Average Recommendation of "Reduce" by Analysts

Shares of Fastly, Inc. (NYSE:FSLY - Get Free Report) have earned a consensus rating of "Reduce" from the ten brokerages that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation and nine have assigned a hold recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $8.25.

Several research firms have weighed in on FSLY. Citigroup upped their target price 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 dropped their price objective on Fastly from $9.00 to $6.00 and set a "neutral" rating for the company in a research report on Tuesday. Oppenheimer started coverage on Fastly in a research report on Thursday, March 20th. They issued a "market perform" rating on the stock. Finally, Royal Bank of Canada dropped their target price on shares of Fastly from $10.00 to $8.00 and set a "sector perform" rating for the company in a report on Thursday, February 13th.

Fastly Stock Performance

Shares of FSLY stock traded up $0.78 on Friday, hitting $5.78. The company's stock had a trading volume of 4,448,005 shares, compared to its average volume of 3,352,390. Fastly has a fifty-two week low of $4.65 and a fifty-two week high of $14.12. The company has a market capitalization of $823.06 million, a PE ratio of -5.07 and a beta of 1.43. The stock's 50 day moving average is $7.30 and its 200-day moving average is $8.16. 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 - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The company reported ($0.21) EPS for the quarter, missing analysts' consensus estimates 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 research analysts expect that Fastly will post -0.78 earnings per share for the current fiscal year.

Insider Activity at Fastly

In other Fastly news, CEO Todd Nightingale sold 35,509 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $8.04, for a total transaction of $285,492.36. Following the transaction, the chief executive officer now directly owns 1,553,301 shares in the company, valued at approximately $12,488,540.04. This represents a 2.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Artur Bergman sold 31,551 shares of the business's stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $10.31, for a total transaction of $325,290.81. Following the transaction, the chief technology officer now owns 3,394,136 shares in the company, valued at $34,993,542.16. The trade was a 0.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 155,150 shares of company stock worth $1,356,178 over the last three months. Company insiders own 6.70% of the company's stock.

Institutional Trading of Fastly

Hedge funds and other institutional investors have recently bought and sold shares of the business. AlphaQuest LLC grew its holdings in shares of Fastly by 169.1% during the fourth quarter. AlphaQuest LLC now owns 4,710 shares of the company's stock valued at $44,000 after buying an additional 2,960 shares during the last quarter. GAMMA Investing LLC boosted its stake in Fastly by 451.7% during the 1st quarter. GAMMA Investing LLC now owns 7,261 shares of the company's stock valued at $46,000 after purchasing an additional 5,945 shares during the last quarter. FMR LLC increased its holdings in Fastly by 124.2% during the 3rd quarter. FMR LLC now owns 6,357 shares of the company's stock worth $48,000 after purchasing an additional 3,522 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of 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 purchasing an additional 3,221 shares during the last quarter. Finally, Wealthfront Advisers LLC bought a new position in shares of Fastly in the fourth quarter valued at approximately $72,000. 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.