Fastly, Inc. (NYSE:FSLY) Given Average Rating of "Hold" by Brokerages

Fastly, Inc. (NYSE:FSLY - Get Free Report) has been given a consensus recommendation of "Hold" by the ten analysts that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $8.85.

Several equities analysts have commented on the stock. Royal Bank of Canada increased their price target on shares of Fastly from $7.00 to $10.00 and gave the company a "sector perform" rating in a research note on Friday, January 3rd. DA Davidson increased their target price on shares of Fastly from $5.50 to $7.50 and gave the company a "neutral" rating in a research report on Thursday, November 7th. Robert W. Baird boosted their price target on shares of Fastly from $7.00 to $8.00 and gave the company a "neutral" rating in a research report on Thursday, November 7th. Piper Sandler raised their price objective on Fastly from $8.00 to $10.00 and gave the stock a "neutral" rating in a report on Tuesday, December 3rd. Finally, Citigroup lifted their target price on Fastly from $9.00 to $10.00 and gave the stock a "neutral" rating in a research report on Friday, January 17th.

Fastly Stock Up 7.8 %

Shares of Fastly stock traded up $0.76 during trading on Monday, hitting $10.45. 2,331,468 shares of the stock were exchanged, compared to its average volume of 2,214,704. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.97 and a quick ratio of 3.97. The firm's 50-day moving average price is $9.28 and its 200 day moving average price is $7.84. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of -9.58 and a beta of 1.24. Fastly has a 12-month low of $5.52 and a 12-month high of $25.87.

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

Insider Buying and Selling at Fastly

In other news, CTO Artur Bergman sold 16,922 shares of the firm's stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $6.25, for a total value of $105,762.50. Following the completion of the sale, the chief technology officer now directly owns 6,138,900 shares of the company's stock, valued at $38,368,125. This trade represents a 0.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Todd Nightingale sold 49,816 shares of the business's stock in a transaction on Monday, November 18th. The stock was sold at an average price of $6.25, for a total transaction of $311,350.00. Following the sale, the chief executive officer now owns 1,600,973 shares in the company, valued at $10,006,081.25. The trade was a 3.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 247,779 shares of company stock valued at $2,050,359 in the last ninety days. Insiders own 6.70% of the company's stock.

Institutional Trading of Fastly

Several hedge funds and other institutional investors have recently made changes to their positions in FSLY. Bank of Montreal Can increased its position in shares of Fastly by 11,140.2% in the third quarter. Bank of Montreal Can now owns 1,305,101 shares of the company's stock valued at $9,867,000 after buying an additional 1,293,490 shares in the last quarter. Quadrature Capital Ltd grew its stake in Fastly by 84.2% in the 3rd quarter. Quadrature Capital Ltd now owns 112,085 shares of the company's stock valued at $848,000 after acquiring an additional 51,224 shares during the last quarter. Penserra Capital Management LLC increased its holdings in Fastly by 18.8% during the 3rd quarter. Penserra Capital Management LLC now owns 5,075,127 shares of the company's stock valued at $38,418,000 after acquiring an additional 801,968 shares in the last quarter. XTX Topco Ltd acquired a new position in Fastly during the third quarter worth about $400,000. Finally, Zacks Investment Management purchased a new stake in shares of Fastly in the third quarter valued at about $914,000. 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.