Brokerages Set Fastly, Inc. (NYSE:FSLY) Price Target at $7.81

Fastly, Inc. (NYSE:FSLY - Get Free Report) has received an average recommendation of "Reduce" from the eight brokerages that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $7.81.

FSLY has been the topic of a number of analyst reports. Morgan Stanley reduced their price target on Fastly from $12.00 to $7.00 and set an "equal weight" rating on the stock in a research report on Tuesday, August 27th. Raymond James lowered Fastly from a "strong-buy" rating to a "market perform" rating in a research report on Tuesday, October 1st. Craig Hallum reduced their price target on Fastly from $10.00 to $6.00 and set a "hold" rating on the stock in a research report on Thursday, August 8th. Finally, Piper Sandler lowered Fastly from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $10.00 to $6.00 in a research report on Thursday, August 8th.

Fastly Price Performance

FSLY stock traded up $0.49 during midday trading on Wednesday, reaching $8.16. 6,387,806 shares of the stock were exchanged, compared to its average volume of 3,543,742. The stock has a market capitalization of $1.13 billion, a PE ratio of -6.58 and a beta of 1.24. Fastly has a 52 week low of $5.52 and a 52 week high of $25.87. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.13 and a quick ratio of 4.13. The company has a fifty day moving average price of $7.01 and a 200 day moving average price of $7.64.

Fastly (NYSE:FSLY - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.07) earnings per share for the quarter, topping analysts' consensus estimates of ($0.08) by $0.01. Fastly had a negative return on equity of 15.22% and a negative net margin of 31.02%. The business had revenue of $132.37 million for the quarter, compared to analyst estimates of $131.62 million. During the same quarter in the previous year, the company posted ($0.32) EPS. Fastly's quarterly revenue was up 7.8% compared to the same quarter last year. As a group, analysts expect that Fastly will post -0.96 EPS for the current fiscal year.

Insider Activity

In other news, CEO Todd Nightingale sold 66,066 shares of the business's stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $6.18, for a total value of $408,287.88. Following the transaction, the chief executive officer now directly owns 1,662,952 shares of the company's stock, valued at $10,277,043.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Ronald W. Kisling sold 15,933 shares of the company's stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $6.18, for a total transaction of $98,465.94. Following the transaction, the chief financial officer now directly owns 570,124 shares of the company's stock, valued at approximately $3,523,366.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Todd Nightingale sold 66,066 shares of the company's stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $6.18, for a total value of $408,287.88. Following the transaction, the chief executive officer now directly owns 1,662,952 shares in the company, valued at approximately $10,277,043.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 143,450 shares of company stock valued at $891,093 in the last ninety days. 6.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in FSLY. Jennison Associates LLC acquired a new position in Fastly during the 1st quarter worth approximately $13,724,000. Vanguard Group Inc. increased its holdings in Fastly by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 13,581,524 shares of the company's stock worth $176,152,000 after purchasing an additional 657,334 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in Fastly by 461.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 756,380 shares of the company's stock worth $5,575,000 after purchasing an additional 621,680 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in Fastly by 94.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 960,864 shares of the company's stock worth $12,453,000 after purchasing an additional 466,560 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Fastly during the 2nd quarter worth approximately $1,233,000. 79.71% of the stock is owned by institutional investors and hedge funds.

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.