Fastly (NYSE:FSLY) Price Target Lowered to $7.00 at Morgan Stanley

Fastly (NYSE:FSLY - Free Report) had its target price cut by Morgan Stanley from $8.00 to $7.00 in a research report released on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Several other research analysts have also weighed in on FSLY. Oppenheimer initiated coverage on shares of Fastly in a research note on Thursday, March 20th. They set a "market perform" rating on the stock. Citigroup boosted 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. Piper Sandler dropped their price objective on Fastly from $9.00 to $6.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Finally, Royal Bank of Canada decreased their target price on Fastly from $10.00 to $8.00 and set a "sector perform" rating for the company in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating and nine have given a hold rating to the company. According to MarketBeat.com, Fastly currently has a consensus rating of "Hold" and an average target price of $8.25.

Fastly Trading Up 1.0 %

Shares of NYSE:FSLY traded up $0.06 during trading on Wednesday, hitting $5.38. 1,840,580 shares of the company's stock were exchanged, compared to its average volume of 3,339,443. The firm has a 50-day moving average price of $6.62 and a two-hundred day moving average price of $8.06. Fastly has a 1-year low of $4.65 and a 1-year high of $13.36. The firm has a market cap of $764.86 million, a P/E ratio of -4.71 and a beta of 1.43. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.36.

Fastly (NYSE:FSLY - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The company reported ($0.21) earnings per share 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%. Equities analysts predict that Fastly will post -0.78 earnings per share for the current year.

Insider Transactions at Fastly

In other Fastly news, CFO Ronald W. Kisling sold 5,342 shares of the business's stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $5.26, for a total transaction of $28,098.92. Following the sale, the chief financial officer now directly owns 665,693 shares of the company's stock, valued at $3,501,545.18. The trade was a 0.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CTO Artur Bergman sold 10,000 shares of the firm's stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $10.12, for a total value of $101,200.00. Following the completion of the transaction, the chief technology officer now owns 3,384,136 shares of the company's stock, valued at $34,247,456.32. The trade was a 0.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 154,454 shares of company stock valued at $1,327,218 over the last three months. Company insiders own 6.70% of the company's stock.

Institutional Trading of Fastly

Institutional investors and hedge funds have recently bought and sold shares of the stock. Swiss National Bank increased its position in shares of Fastly by 2.2% during the 4th quarter. Swiss National Bank now owns 259,000 shares of the company's stock worth $2,445,000 after purchasing an additional 5,500 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in Fastly during the fourth quarter worth $269,000. SG Americas Securities LLC increased its holdings in Fastly by 56.6% during the fourth quarter. SG Americas Securities LLC now owns 346,632 shares of the company's stock worth $3,272,000 after buying an additional 125,275 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Fastly during the fourth quarter worth $3,717,000. Finally, Oppenheimer & Co. Inc. acquired a new stake in Fastly in the fourth quarter valued at $149,000. 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.