Fastly, Inc. (NYSE:FSLY) Receives Consensus Recommendation of "Reduce" from Analysts

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

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

Insider Transactions at Fastly

In other news, CEO Todd Nightingale sold 66,066 shares of the company'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 completion of the transaction, the chief executive officer now directly owns 1,662,952 shares in the company, valued at approximately $10,277,043.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Fastly news, CEO Todd Nightingale sold 66,066 shares of Fastly stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $6.18, for a total transaction 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 approximately $10,277,043.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Ronald W. Kisling sold 15,933 shares of the company's stock in a transaction on Friday, August 16th. The shares were sold at an average price of $6.18, for a total transaction of $98,465.94. Following the completion of the sale, the chief financial officer now directly owns 570,124 shares of the company's stock, valued at $3,523,366.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 143,450 shares of company stock valued at $903,011. Insiders own 6.70% of the company's stock.

Institutional Investors Weigh In On Fastly

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cambridge Trust Co. bought a new stake in Fastly in the 1st quarter worth $39,000. Cape Investment Advisory Inc. grew its stake in shares of Fastly by 27,666.7% in the first quarter. Cape Investment Advisory Inc. now owns 4,165 shares of the company's stock worth $54,000 after purchasing an additional 4,150 shares during the last quarter. Point72 DIFC Ltd purchased a new position in Fastly during the 2nd quarter valued at about $38,000. EntryPoint Capital LLC raised its position in Fastly by 41.1% during the 1st quarter. EntryPoint Capital LLC now owns 5,644 shares of the company's stock valued at $73,000 after purchasing an additional 1,643 shares during the last quarter. Finally, Geneos Wealth Management Inc. bought a new position in Fastly during the 1st quarter valued at approximately $92,000. Institutional investors own 79.71% of the company's stock.

Fastly Stock Performance

NYSE FSLY traded up $0.14 during trading on Friday, hitting $7.38. 1,865,611 shares of the company's stock traded hands, compared to its average volume of 3,630,213. The company has a debt-to-equity ratio of 0.35, a quick ratio of 4.13 and a current ratio of 4.13. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of -5.95 and a beta of 1.22. Fastly has a 12-month low of $5.52 and a 12-month high of $25.87. The business has a 50 day moving average of $6.65 and a 200-day moving average of $8.35.

Fastly (NYSE:FSLY - Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.01. Fastly had a negative net margin of 31.02% and a negative return on equity of 15.22%. The company had revenue of $132.37 million during the quarter, compared to the consensus estimate of $131.62 million. During the same period last year, the firm earned ($0.32) EPS. Fastly's revenue for the quarter was up 7.8% on a year-over-year basis. As a group, equities research analysts anticipate that Fastly will post -0.96 earnings per share for the current fiscal year.

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.