Analysts Set Fastly, Inc. (NYSE:FSLY) PT at $7.94

Fastly, Inc. (NYSE:FSLY - Get Free Report) has earned a consensus rating of "Reduce" from the nine analysts that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $7.94.

A number of equities analysts have recently commented on FSLY shares. Raymond James downgraded shares of Fastly from a "strong-buy" rating to a "market perform" rating in a research note on Tuesday, October 1st. Morgan Stanley reduced their price target on Fastly from $12.00 to $7.00 and set an "equal weight" rating for the company in a research report on Tuesday, August 27th. Piper Sandler boosted their price target on Fastly from $6.00 to $8.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. Robert W. Baird increased their price objective on Fastly from $7.00 to $8.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Finally, 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.

Fastly Stock Up 7.1 %

Fastly stock traded up $0.56 during midday trading on Friday, reaching $8.48. The stock had a trading volume of 2,098,009 shares, compared to its average volume of 3,298,616. The stock has a market capitalization of $1.19 billion, a P/E ratio of -7.78 and a beta of 1.24. The firm's fifty day simple moving average is $7.39 and its 200-day simple moving average is $7.25. 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 has a 1-year low of $5.52 and a 1-year high of $25.87.

Fastly (NYSE:FSLY - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.06) by $0.08. Fastly had a negative net margin of 27.47% and a negative return on equity of 13.24%. The company had revenue of $137.21 million for the quarter, compared to the consensus estimate of $131.86 million. During the same period last year, the company earned ($0.33) earnings per share. The firm's revenue was up 7.3% compared to the same quarter last year. As a group, analysts expect that Fastly will post -0.87 EPS for the current fiscal year.

Insider Buying and Selling at Fastly

In other news, CTO Artur Bergman sold 19,889 shares of the business's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $5.96, for a total transaction of $118,538.44. Following the completion of the sale, the chief technology officer now owns 6,205,000 shares in the company, valued at $36,981,800. The trade was a 0.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Ronald W. Kisling sold 7,449 shares of the company's stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $7.24, for a total value of $53,930.76. Following the completion of the transaction, the chief financial officer now directly owns 558,564 shares in the company, valued at $4,044,003.36. The trade was a 1.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 174,439 shares of company stock valued at $1,209,560 in the last quarter. 6.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Fastly

Hedge funds and other institutional investors have recently modified their holdings of the company. Penserra Capital Management LLC increased its position in Fastly by 18.8% during the third quarter. Penserra Capital Management LLC now owns 5,075,127 shares of the company's stock worth $38,418,000 after acquiring an additional 801,968 shares during the period. Qsemble Capital Management LP acquired a new stake in shares of Fastly in the 2nd quarter valued at approximately $586,000. SG Americas Securities LLC boosted its position in Fastly by 77.5% in the third quarter. SG Americas Securities LLC now owns 221,357 shares of the company's stock valued at $1,676,000 after buying an additional 96,664 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of Fastly by 1,197.4% during the second quarter. Marshall Wace LLP now owns 151,172 shares of the company's stock worth $1,114,000 after buying an additional 139,520 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its position in Fastly by 461.5% in the second quarter. Point72 Asset Management L.P. now owns 756,380 shares of the company's stock valued at $5,575,000 after purchasing an additional 621,680 shares during the last quarter. 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.