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

Fastly, Inc. (NYSE:FSLY - Get Free Report) has been assigned an average rating of "Hold" from the ten brokerages that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $8.55.

A number of brokerages recently commented on FSLY. Oppenheimer raised Fastly from a "market perform" rating to an "outperform" rating and set a $12.00 price target for the company in a report on Monday, December 2nd. Piper Sandler reaffirmed a "neutral" rating and set a $9.00 target price (down previously from $10.00) on shares of Fastly in a report on Thursday, February 13th. Citigroup increased their target price on Fastly from $9.00 to $10.00 and gave the stock a "neutral" rating in a report on Friday, January 17th. Finally, Royal Bank of Canada reduced 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.

Fastly Stock Down 2.4 %

FSLY traded down $0.17 on Tuesday, reaching $6.60. The company's stock had a trading volume of 1,423,771 shares, compared to its average volume of 3,303,983. The stock has a market cap of $938.47 million, a price-to-earnings ratio of -5.79 and a beta of 1.31. Fastly has a 1 year low of $5.52 and a 1 year high of $14.12. 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 business's 50 day moving average is $8.72 and its 200 day moving average is $8.16.

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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 net margin of 29.07% and a negative return on equity of 12.75%. As a group, research analysts forecast that Fastly will post -0.78 EPS for the current fiscal year.

Insider Transactions at Fastly

In other 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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Artur Bergman sold 10,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $10.09, for a total value of $100,900.00. Following the sale, the chief technology officer now owns 3,434,136 shares in the company, valued at $34,650,432.24. The trade was a 0.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 177,099 shares of company stock worth $1,627,884. 6.70% of the stock is currently owned by company insiders.

Institutional Trading of Fastly

Institutional investors and hedge funds have recently made changes to their positions in the stock. Entropy Technologies LP raised its stake in Fastly by 118.7% during the 3rd quarter. Entropy Technologies LP now owns 39,803 shares of the company's stock valued at $301,000 after acquiring an additional 21,600 shares in the last quarter. Aigen Investment Management LP bought a new stake in Fastly during the 3rd quarter valued at $89,000. Intech Investment Management LLC bought a new stake in Fastly during the 3rd quarter valued at $328,000. Charles Schwab Investment Management Inc. raised its stake in Fastly by 18.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,057,642 shares of the company's stock valued at $8,006,000 after acquiring an additional 161,070 shares in the last quarter. Finally, Penserra Capital Management LLC raised its stake 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. 79.71% of the stock is currently owned by institutional investors and hedge funds.

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.