Fastly, Inc. (NYSE:FSLY) Receives $16.83 Average Price Target from Brokerages

Fastly, Inc. (NYSE:FSLY) has been assigned a consensus rating of “Hold” from the ten brokerages that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $16.83.

Several analysts have commented on the stock. DA Davidson boosted their price target on shares of Fastly from $17.00 to $20.00 in a research note on Friday, June 23rd. Citigroup boosted their price target on shares of Fastly from $8.00 to $10.00 and gave the stock a “sell” rating in a research note on Tuesday, August 29th. Royal Bank of Canada boosted their target price on shares of Fastly from $11.00 to $12.00 and gave the stock an “underperform” rating in a report on Thursday, August 3rd. Morgan Stanley boosted their target price on shares of Fastly from $18.00 to $19.00 and gave the stock an “equal weight” rating in a report on Thursday, August 3rd. Finally, Craig Hallum boosted their target price on shares of Fastly from $17.00 to $20.00 in a report on Friday, June 23rd.

Insider Activity at Fastly

In related news, insider Artur Bergman sold 21,875 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $23.36, for a total transaction of $511,000.00. Following the completion of the sale, the insider now owns 6,214,356 shares of the company’s stock, valued at $145,167,356.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Fastly news, CFO Ronald W. Kisling sold 1,179 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $22.07, for a total transaction of $26,020.53. Following the transaction, the chief financial officer now owns 467,648 shares in the company, valued at approximately $10,320,991.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Artur Bergman sold 21,875 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $23.36, for a total transaction of $511,000.00. Following the transaction, the insider now owns 6,214,356 shares in the company, valued at approximately $145,167,356.16. The disclosure for this sale can be found here. Insiders sold 371,413 shares of company stock valued at $7,338,567 over the last 90 days. Insiders own 7.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Fastly by 5.6% during the third quarter. Vanguard Group Inc. now owns 10,899,919 shares of the company’s stock worth $99,843,000 after purchasing an additional 582,897 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Fastly by 65.3% during the first quarter. First Trust Advisors LP now owns 7,846,587 shares of the company’s stock worth $136,374,000 after purchasing an additional 3,099,852 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Fastly during the fourth quarter worth $42,697,000. Alyeska Investment Group L.P. purchased a new position in shares of Fastly during the fourth quarter worth $30,870,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Fastly by 17.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,464,873 shares of the company’s stock worth $54,641,000 after purchasing an additional 525,998 shares during the last quarter. Institutional investors and hedge funds own 65.65% of the company’s stock.

Fastly Stock Down 3.2 %

FSLY opened at $21.63 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 3.84 and a current ratio of 3.84. Fastly has a fifty-two week low of $7.15 and a fifty-two week high of $24.31. The firm’s fifty day moving average is $19.83 and its 200 day moving average is $16.90. The stock has a market cap of $2.79 billion, a price-to-earnings ratio of -16.14 and a beta of 1.21.

Fastly (NYSE:FSLY) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.36) by $0.04. The business had revenue of $122.83 million for the quarter, compared to analysts’ expectations of $118.69 million. Fastly had a negative net margin of 35.34% and a negative return on equity of 18.05%. On average, sell-side analysts forecast that Fastly will post -1.32 earnings per share for the current fiscal year.

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.