Fastly (NYSE:FSLY) Earns Market Perform Rating from Analysts at Oppenheimer

Oppenheimer started coverage on shares of Fastly (NYSE:FSLY - Free Report) in a report issued on Thursday. The firm issued a market perform rating on the stock.

Other equities analysts have also issued research reports about the company. Piper Sandler reaffirmed a "neutral" rating and issued a $9.00 price target (down previously from $10.00) on shares of Fastly in a research report on Thursday, February 13th. Royal Bank of Canada decreased their target price on shares of Fastly from $10.00 to $8.00 and set a "sector perform" rating for the company in a report on Thursday, February 13th. Finally, Citigroup increased their price target on shares of Fastly from $9.00 to $10.00 and gave the company a "neutral" rating in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating and nine have assigned a hold rating to the stock. According to data from MarketBeat, Fastly presently has a consensus rating of "Hold" and a consensus target price of $8.55.

Fastly Stock Up 1.6 %

NYSE:FSLY traded up $0.12 during mid-day trading on Thursday, hitting $7.23. 2,541,453 shares of the company's stock were exchanged, compared to its average volume of 3,288,246. The company has a market cap of $1.03 billion, a PE ratio of -6.34 and a beta of 1.31. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.97 and a quick ratio of 3.97. Fastly has a one year low of $5.52 and a one year high of $14.12. The business has a fifty day moving average price of $8.40 and a 200 day moving average price of $8.24.

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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 return on equity of 12.75% and a negative net margin of 29.07%. Equities analysts predict that Fastly will post -0.78 EPS for the current year.

Insider Buying and Selling

In other Fastly news, CFO Ronald W. Kisling sold 12,500 shares of the business's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $10.00, for a total transaction of $125,000.00. Following the completion of the sale, the chief financial officer now directly owns 525,850 shares in the company, valued at $5,258,500. The trade was a 2.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Artur Bergman sold 8,049 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $10.04, for a total transaction of $80,811.96. Following the completion of the transaction, the chief technology officer now owns 3,426,087 shares in the company, valued at $34,397,913.48. This trade represents a 0.23 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 163,699 shares of company stock worth $1,486,150. 6.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Fastly

Hedge funds have recently modified their holdings of the business. AlphaQuest LLC raised its holdings in Fastly by 169.1% in the 4th quarter. AlphaQuest LLC now owns 4,710 shares of the company's stock worth $44,000 after purchasing an additional 2,960 shares during the period. Jones Financial Companies Lllp raised its stake in shares of Fastly by 128.9% in the fourth quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company's stock worth $54,000 after buying an additional 3,221 shares during the period. FMR LLC lifted its position in shares of Fastly by 124.2% during the 3rd quarter. FMR LLC now owns 6,357 shares of the company's stock valued at $48,000 after buying an additional 3,522 shares in the last quarter. Wealthfront Advisers LLC bought a new position in shares of Fastly during the 4th quarter valued at approximately $72,000. Finally, Canada Pension Plan Investment Board purchased a new stake in Fastly in the 4th quarter worth approximately $82,000. Institutional investors 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.