Fastly, Inc. (NYSE:FSLY) Given Consensus Rating of "Hold" by Analysts

Shares of Fastly, Inc. (NYSE:FSLY - Get Free Report) have been given a consensus recommendation of "Hold" by the ten analysts that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $8.55.

A number of analysts recently commented on the company. DA Davidson increased their price target on Fastly from $5.50 to $7.50 and gave the company a "neutral" rating in a research report on Thursday, November 7th. Royal Bank of Canada raised their target price on Fastly from $6.00 to $7.00 and gave the stock a "sector perform" rating in a research report on Thursday, November 7th. Piper Sandler raised their target price on Fastly from $8.00 to $10.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 3rd. Oppenheimer raised Fastly from a "market perform" rating to an "outperform" rating and set a $12.00 target price for the company in a research report on Monday, December 2nd. Finally, Craig Hallum raised their target price on Fastly from $6.00 to $8.00 and gave the stock a "hold" rating in a research report on Thursday, November 7th.

Fastly Stock Performance

Shares of FSLY traded up $0.09 on Thursday, reaching $10.13. 1,823,763 shares of the company's stock traded hands, compared to its average volume of 3,589,245. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.36. The stock has a market cap of $1.42 billion, a PE ratio of -9.29 and a beta of 1.27. The stock's 50 day simple moving average is $8.46 and its two-hundred day simple moving average is $7.53. Fastly has a 52-week low of $5.52 and a 52-week high of $25.87.

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

Insider Transactions at Fastly

In other Fastly news, CTO Artur Bergman sold 10,000 shares of Fastly stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $10.09, for a total transaction of $100,900.00. Following the completion of the sale, the chief technology officer now owns 3,434,136 shares of the company's stock, valued at $34,650,432.24. The trade was a 0.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Todd Nightingale sold 12,163 shares of Fastly stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $8.12, for a total value of $98,763.56. Following the sale, the chief executive officer now directly owns 1,588,810 shares of the company's stock, valued at approximately $12,901,137.20. This trade represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 228,641 shares of company stock valued at $1,841,418 over the last three months. Company insiders own 6.70% of the company's stock.

Institutional Investors Weigh In On Fastly

Hedge funds have recently added to or reduced their stakes in the company. Point72 DIFC Ltd purchased a new position in shares of Fastly in the second quarter worth about $38,000. FMR LLC increased its holdings in shares of Fastly by 124.2% in the third quarter. FMR LLC now owns 6,357 shares of the company's stock worth $48,000 after buying an additional 3,522 shares during the period. Daiwa Securities Group Inc. increased its holdings in shares of Fastly by 95.3% in the second quarter. Daiwa Securities Group Inc. now owns 8,849 shares of the company's stock worth $65,000 after buying an additional 4,318 shares during the period. Aigen Investment Management LP purchased a new position in shares of Fastly in the third quarter worth about $89,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in shares of Fastly in the second quarter worth about $103,000. Institutional investors own 79.71% of the company's stock.

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.