Fastly, Inc. (NYSE:FSLY) Given Average Rating of “Hold” by Analysts

Shares of Fastly, Inc. (NYSE:FSLYGet Rating) have earned an average rating of “Hold” from the ten brokerages that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $14.25.

A number of equities analysts have recently issued reports on FSLY shares. Royal Bank of Canada lowered shares of Fastly from a “sector perform” rating to an “underperform” rating and reduced their target price for the stock from $17.50 to $9.00 in a research report on Tuesday, July 19th. Craig Hallum reduced their target price on shares of Fastly from $19.00 to $13.00 in a research report on Thursday, August 4th. Morgan Stanley lowered shares of Fastly from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $18.00 to $12.00 in a research report on Monday, July 11th. DA Davidson reduced their target price on shares of Fastly to $12.00 in a research report on Tuesday, August 9th. Finally, Raymond James reduced their target price on shares of Fastly from $35.00 to $25.00 and set a “strong-buy” rating on the stock in a research report on Friday, August 12th.

Fastly Price Performance

NYSE:FSLY opened at $8.44 on Friday. The firm has a market cap of $1.03 billion, a PE ratio of -5.12 and a beta of 1.43. Fastly has a 12 month low of $8.27 and a 12 month high of $58.62. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 0.73. The company’s 50-day moving average price is $10.52 and its two-hundred day moving average price is $13.03.

Insider Transactions at Fastly

In other news, EVP Brett Shirk sold 3,979 shares of the stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $11.97, for a total transaction of $47,628.63. Following the completion of the sale, the executive vice president now owns 300,244 shares of the company’s stock, valued at $3,593,920.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Brett Shirk sold 3,979 shares of the firm’s stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $11.97, for a total value of $47,628.63. Following the completion of the transaction, the executive vice president now owns 300,244 shares of the company’s stock, valued at $3,593,920.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Artur Bergman sold 14,319 shares of the firm’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $12.18, for a total transaction of $174,405.42. Following the completion of the transaction, the insider now directly owns 6,726,628 shares of the company’s stock, valued at approximately $81,930,329.04. The disclosure for this sale can be found here. Insiders sold 72,622 shares of company stock valued at $858,196 over the last quarter. Corporate insiders own 8.90% of the company’s stock.

Institutional Trading of Fastly

A number of large investors have recently added to or reduced their stakes in FSLY. MetLife Investment Management LLC acquired a new stake in shares of Fastly during the 1st quarter worth about $37,000. Penserra Capital Management LLC lifted its stake in shares of Fastly by 50.0% during the 1st quarter. Penserra Capital Management LLC now owns 3,072 shares of the company’s stock worth $53,000 after buying an additional 1,024 shares during the last quarter. Captrust Financial Advisors lifted its stake in shares of Fastly by 32.2% during the 1st quarter. Captrust Financial Advisors now owns 3,859 shares of the company’s stock worth $67,000 after buying an additional 941 shares during the last quarter. Calixto Global Investors LP acquired a new stake in shares of Fastly during the 4th quarter worth about $86,000. Finally, Geneos Wealth Management Inc. lifted its stake in shares of Fastly by 122.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 5,835 shares of the company’s stock worth $101,000 after buying an additional 3,210 shares during the last quarter. Institutional investors and hedge funds own 65.42% of the company’s stock.

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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Analyst Recommendations for Fastly (NYSE:FSLY)

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