Credit Suisse Group assumed coverage on shares of Fastly (NYSE:FSLY – Get Rating) in a research report report published on Monday morning, The Fly reports. The brokerage issued a neutral rating on the stock.
Several other research analysts have also issued reports on FSLY. Craig Hallum decreased their target price on Fastly from $19.00 to $13.00 in a research report on Thursday, August 4th. DA Davidson decreased their target price on Fastly to $12.00 in a research report on Tuesday, August 9th. Raymond James decreased their target price on Fastly from $35.00 to $25.00 and set a strong-buy rating for the company in a research report on Friday, August 12th. Piper Sandler reduced their price objective on Fastly from $13.00 to $10.00 in a research report on Thursday, November 3rd. Finally, Citigroup reduced their price objective on Fastly from $10.00 to $8.00 and set a sell rating for the company in a research report on Tuesday, November 8th. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Fastly presently has an average rating of Hold and an average target price of $12.75.
Fastly Stock Down 5.9 %
Shares of NYSE:FSLY opened at $8.40 on Monday. Fastly has a 52-week low of $7.32 and a 52-week high of $44.08. The firm has a market capitalization of $1.03 billion, a P/E ratio of -4.97 and a beta of 1.24. The stock has a 50 day moving average price of $8.75 and a 200-day moving average price of $10.48. The company has a debt-to-equity ratio of 0.75, a quick ratio of 4.41 and a current ratio of 4.41.
Insider Transactions at Fastly
Hedge Funds Weigh In On Fastly
Several institutional investors and hedge funds have recently bought and sold shares of FSLY. Nisa Investment Advisors LLC purchased a new position in Fastly during the first quarter valued at $704,000. SG Americas Securities LLC lifted its position in Fastly by 181.0% during the first quarter. SG Americas Securities LLC now owns 43,876 shares of the company’s stock valued at $763,000 after purchasing an additional 28,263 shares in the last quarter. State of New Jersey Common Pension Fund D raised its holdings in Fastly by 98.3% during the first quarter. State of New Jersey Common Pension Fund D now owns 133,431 shares of the company’s stock valued at $2,319,000 after acquiring an additional 66,143 shares during the period. National Bank of Canada FI raised its holdings in Fastly by 29,392.1% during the first quarter. National Bank of Canada FI now owns 92,900 shares of the company’s stock valued at $1,614,000 after acquiring an additional 92,585 shares during the period. Finally, Nikko Asset Management Americas Inc. bought a new stake in Fastly during the first quarter valued at about $370,000. 65.42% of the stock is currently owned by hedge funds and other institutional investors.
Fastly Company Profile
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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