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

Shares of Fastly, Inc. (NYSE:FSLY - Get Free Report) have earned a consensus rating of "Hold" from the ten ratings firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $8.85.

Several equities analysts have recently weighed in on the company. Raymond James downgraded Fastly from a "strong-buy" rating to a "market perform" rating in a research report on Tuesday, October 1st. Royal Bank of Canada boosted their price objective on shares of Fastly from $7.00 to $10.00 and gave the company a "sector perform" rating in a research report on Friday, January 3rd. 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. Craig Hallum increased their price objective on shares of Fastly from $6.00 to $8.00 and gave the stock a "hold" rating in a research report on Thursday, November 7th. Finally, DA Davidson boosted their target price on Fastly from $5.50 to $7.50 and gave the company a "neutral" rating in a research report on Thursday, November 7th.

Insider Buying and Selling at Fastly

In other Fastly news, CTO Artur Bergman sold 3,400 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $12.01, for a total transaction of $40,834.00. Following the sale, the chief technology officer now owns 3,444,136 shares of the company's stock, valued at approximately $41,364,073.36. This trade represents a 0.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Ronald W. Kisling sold 12,500 shares of the company's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $10.00, for a total value of $125,000.00. Following the sale, the chief financial officer now owns 525,850 shares of the company's stock, valued at $5,258,500. This trade represents a 2.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 241,741 shares of company stock valued at $1,993,300. Company insiders own 6.70% of the company's stock.

Hedge Funds Weigh In On Fastly

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

Fastly Price Performance

FSLY traded down $0.10 during trading hours on Monday, hitting $9.31. The company's stock had a trading volume of 2,642,594 shares, compared to its average volume of 2,532,854. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of -8.54 and a beta of 1.24. The business's 50-day moving average price is $9.14 and its 200-day moving average price is $7.80. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.36. Fastly has a 12 month low of $5.52 and a 12 month high of $25.87.

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