Robert W. Baird Forecasts Strong Price Appreciation for Fastly (NYSE:FSLY) Stock

Fastly (NYSE:FSLY - Get Free Report) had its price target increased by equities researchers at Robert W. Baird from $7.00 to $8.00 in a report issued on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Robert W. Baird's target price points to a potential upside of 1.65% from the stock's current price.

Other equities research analysts have also issued reports about the stock. Raymond James lowered shares of Fastly from a "strong-buy" rating to a "market perform" rating in a research note on Tuesday, October 1st. Piper Sandler increased their price target on Fastly from $6.00 to $8.00 and gave the company a "neutral" rating in a report on Thursday. Craig Hallum dropped their price target on shares of Fastly from $10.00 to $6.00 and set a "hold" rating on the stock in a research note on Thursday, August 8th. Royal Bank of Canada increased their target price on shares of Fastly from $6.00 to $7.00 and gave the stock a "sector perform" rating in a research report on Thursday. Finally, Morgan Stanley dropped their target price on shares of Fastly from $12.00 to $7.00 and set an "equal weight" rating for the company in a research report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat.com, Fastly currently has an average rating of "Hold" and a consensus target price of $7.94.

Fastly Stock Down 3.6 %

Fastly stock traded down $0.29 during mid-day trading on Thursday, reaching $7.87. The company's stock had a trading volume of 3,600,033 shares, compared to its average volume of 3,544,247. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of -6.35 and a beta of 1.24. 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 business's 50 day simple moving average is $7.01 and its 200 day simple moving average is $7.64. Fastly has a 12 month low of $5.52 and a 12 month high of $25.87.

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

Insider Transactions at Fastly

In other Fastly news, CFO Ronald W. Kisling sold 15,933 shares of the business'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 owns 570,124 shares of the company's stock, valued at $3,523,366.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Fastly news, CTO Artur Bergman sold 16,748 shares of the business's stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $6.18, for a total value of $103,502.64. Following the completion of the transaction, the chief technology officer now owns 6,225,980 shares of the company's stock, valued at $38,476,556.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ronald W. Kisling sold 15,933 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $6.18, for a total transaction of $98,465.94. Following the completion of the transaction, the chief financial officer now owns 570,124 shares of the company's stock, valued at approximately $3,523,366.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 143,450 shares of company stock worth $891,093. Insiders own 6.70% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC grew its position in shares of Fastly by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,242 shares of the company's stock valued at $133,000 after buying an additional 863 shares during the last quarter. Private Advisor Group LLC boosted its stake in shares of Fastly by 155.4% during the 1st quarter. Private Advisor Group LLC now owns 41,133 shares of the company's stock valued at $533,000 after buying an additional 25,030 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Fastly by 11.6% in the 1st quarter. BNP Paribas Financial Markets now owns 305,797 shares of the company's stock worth $3,966,000 after buying an additional 31,749 shares during the last quarter. Geneos Wealth Management Inc. acquired a new stake in Fastly in the first quarter worth approximately $92,000. Finally, Quantbot Technologies LP raised its holdings in shares of Fastly by 364.2% during the first quarter. Quantbot Technologies LP now owns 68,824 shares of the company's stock valued at $893,000 after acquiring an additional 53,998 shares during the period. 79.71% of the stock is owned by institutional investors.

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.

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