Royal Bank of Canada Has Lowered Expectations for Fastly (NYSE:FSLY) Stock Price

Fastly (NYSE:FSLY - Free Report) had its target price trimmed by Royal Bank of Canada from $10.00 to $8.00 in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has a sector perform rating on the stock.

Several other research analysts have also recently commented on FSLY. Citigroup increased their price target on Fastly from $9.00 to $10.00 and gave the company a "neutral" rating in a research report on Friday, January 17th. Oppenheimer upgraded shares of Fastly from a "market perform" rating to an "outperform" rating and set a $12.00 target price on the stock in a report on Monday, December 2nd. Robert W. Baird increased their price target on shares of Fastly from $7.00 to $8.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. Craig Hallum boosted their price objective on shares of Fastly from $6.00 to $8.00 and gave the stock a "hold" rating in a research note on Thursday, November 7th. Finally, Piper Sandler reiterated a "neutral" rating and issued a $9.00 target price (down from $10.00) on shares of Fastly in a research note on Thursday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Fastly presently has an average rating of "Hold" and an average price target of $8.55.

Fastly Stock Up 1.4 %

Shares of FSLY stock traded up $0.12 on Thursday, hitting $8.09. 5,269,424 shares of the stock were exchanged, compared to its average volume of 2,172,157. 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 firm has a market capitalization of $1.13 billion, a P/E ratio of -7.42 and a beta of 1.26. Fastly has a fifty-two week low of $5.52 and a fifty-two week high of $18.42. The business has a 50-day moving average of $9.93 and a 200 day moving average of $8.11.

Fastly (NYSE:FSLY - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.22). Fastly had a negative return on equity of 13.24% and a negative net margin of 27.47%. Equities analysts anticipate that Fastly will post -0.86 EPS for the current year.

Insider Transactions at Fastly

In other Fastly news, CFO Ronald W. Kisling sold 12,500 shares of Fastly stock in a transaction on Monday, January 6th. The stock was sold at an average price of $10.00, for a total value of $125,000.00. Following the completion of the transaction, the chief financial officer now directly owns 525,850 shares of the company's stock, valued at $5,258,500. The trade was a 2.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Artur Bergman sold 10,000 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $10.58, for a total value of $105,800.00. Following the sale, the chief technology officer now directly owns 3,364,136 shares in the company, valued at approximately $35,592,558.88. This trade represents a 0.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 177,312 shares of company stock valued at $1,770,133. 6.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Fastly

Institutional investors and hedge funds have recently bought and sold shares of the company. 180 Wealth Advisors LLC lifted its holdings in shares of Fastly by 2.5% during the 4th quarter. 180 Wealth Advisors LLC now owns 68,643 shares of the company's stock worth $648,000 after acquiring an additional 1,695 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Fastly by 3.2% during the second quarter. The Manufacturers Life Insurance Company now owns 68,301 shares of the company's stock worth $503,000 after purchasing an additional 2,128 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Fastly by 15.2% in the 3rd quarter. Blue Trust Inc. now owns 17,420 shares of the company's stock valued at $128,000 after purchasing an additional 2,296 shares in the last quarter. AlphaQuest LLC increased its stake in shares of Fastly by 169.1% in the 4th quarter. AlphaQuest LLC now owns 4,710 shares of the company's stock valued at $44,000 after purchasing an additional 2,960 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Fastly by 1.6% during the 4th quarter. Rhumbline Advisers now owns 192,131 shares of the company's stock worth $1,814,000 after buying an additional 3,081 shares in the last quarter. 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.