Fastly, Inc. (NYSE:FSLY) Receives Average Recommendation of “Hold” from Brokerages

Fastly, Inc. (NYSE:FSLYGet Rating) has been given an average rating of “Hold” by the ten ratings firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $21.25.

Several research firms have issued reports on FSLY. Citigroup dropped their target price on Fastly from $14.00 to $10.00 and set a “maintains” rating on the stock in a research report on Friday, July 22nd. Piper Sandler dropped their target price on Fastly from $19.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 6th. Morgan Stanley downgraded Fastly from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $18.00 to $12.00 in a research report on Monday, July 11th. Finally, Royal Bank of Canada downgraded Fastly from a “sector perform” rating to an “underperform” rating and dropped their target price for the stock from $17.50 to $9.00 in a research report on Tuesday, July 19th.

Insider Buying and Selling

In related news, EVP Brett Shirk sold 3,008 shares of the stock in a transaction on Thursday, June 16th. The stock was sold at an average price of $10.54, for a total value of $31,704.32. Following the sale, the executive vice president now owns 304,223 shares in the company, valued at $3,206,510.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Brett Shirk sold 3,008 shares of the stock in a transaction on Thursday, June 16th. The stock was sold at an average price of $10.54, for a total value of $31,704.32. Following the transaction, the executive vice president now owns 304,223 shares of the company’s stock, valued at $3,206,510.42. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Ronald W. Kisling sold 5,083 shares of the stock in a transaction on Monday, July 18th. The shares were sold at an average price of $12.02, for a total value of $61,097.66. Following the completion of the transaction, the chief financial officer now directly owns 409,054 shares in the company, valued at approximately $4,916,829.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,368 shares of company stock worth $515,068. Corporate insiders own 8.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of FSLY. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Fastly by 50.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,348 shares of the company’s stock worth $544,000 after buying an additional 5,129 shares during the period. Longitude Cayman Ltd. purchased a new position in shares of Fastly during the fourth quarter valued at approximately $390,000. Virginia Retirement Systems ET AL purchased a new position in shares of Fastly during the fourth quarter valued at approximately $316,000. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Fastly by 6.1% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 21,356 shares of the company’s stock valued at $757,000 after purchasing an additional 1,236 shares during the last quarter. Finally, Arizona State Retirement System lifted its holdings in shares of Fastly by 8.9% during the fourth quarter. Arizona State Retirement System now owns 29,813 shares of the company’s stock valued at $1,057,000 after purchasing an additional 2,435 shares during the last quarter. 65.08% of the stock is owned by institutional investors.

Fastly Price Performance

Fastly stock opened at $13.21 on Thursday. Fastly has a 12 month low of $9.50 and a 12 month high of $58.62. The company has a current ratio of 5.26, a quick ratio of 5.26 and a debt-to-equity ratio of 0.99. The business’s 50 day simple moving average is $12.04 and its 200 day simple moving average is $16.59. The company has a market cap of $1.60 billion, a price-to-earnings ratio of -6.54 and a beta of 1.38.

Fastly (NYSE:FSLYGet Rating) last posted its earnings results on Wednesday, May 4th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.05). The company had revenue of $102.40 million for the quarter, compared to analysts’ expectations of $98.94 million. Fastly had a negative return on equity of 20.82% and a negative net margin of 63.54%. The company’s revenue was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.39) EPS. Sell-side analysts forecast that Fastly will post -1.88 EPS for the current year.

Fastly Company Profile

(Get Rating)

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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