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

Fastly, Inc. (NYSE:FSLYGet Free Report) has earned a consensus recommendation of “Hold” from the eleven brokerages that are presently covering the company, Marketbeat reports. Seven analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $19.25.

Several equities analysts have recently weighed in on the company. Royal Bank of Canada upgraded Fastly from an “underperform” rating to a “sector perform” rating and raised their price objective for the company from $12.00 to $18.00 in a report on Monday, January 8th. Citigroup upgraded Fastly from a “sell” rating to a “neutral” rating and raised their price target for the company from $11.00 to $20.00 in a research note on Monday, January 22nd.

Read Our Latest Stock Analysis on FSLY

Fastly Stock Performance

Shares of FSLY opened at $24.28 on Monday. The stock has a market capitalization of $3.18 billion, a price-to-earnings ratio of -19.58 and a beta of 1.33. Fastly has a 12 month low of $9.72 and a 12 month high of $24.96. The firm has a fifty day simple moving average of $18.90 and a 200 day simple moving average of $18.60. The company has a current ratio of 3.85, a quick ratio of 3.85 and a debt-to-equity ratio of 0.49.

Insider Transactions at Fastly

In other Fastly news, insider Artur Bergman sold 17,500 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $16.07, for a total transaction of $281,225.00. Following the completion of the sale, the insider now owns 6,354,593 shares of the company’s stock, valued at approximately $102,118,309.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Artur Bergman sold 17,500 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $16.07, for a total value of $281,225.00. Following the transaction, the insider now owns 6,354,593 shares in the company, valued at approximately $102,118,309.51. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Brett Shirk sold 31,482 shares of the stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $16.24, for a total transaction of $511,267.68. Following the completion of the transaction, the executive vice president now directly owns 271,779 shares in the company, valued at $4,413,690.96. The disclosure for this sale can be found here. In the last three months, insiders sold 709,321 shares of company stock worth $12,285,822. 7.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Fastly

A number of institutional investors have recently modified their holdings of the business. Point72 Asset Management L.P. bought a new position in Fastly during the 4th quarter worth $42,697,000. First Trust Advisors LP increased its holdings in Fastly by 65.3% in the 1st quarter. First Trust Advisors LP now owns 7,846,587 shares of the company’s stock valued at $136,374,000 after buying an additional 3,099,852 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Fastly by 207.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,938,875 shares of the company’s stock valued at $52,191,000 after buying an additional 1,983,946 shares in the last quarter. Morgan Stanley raised its position in shares of Fastly by 72.5% in the 3rd quarter. Morgan Stanley now owns 4,516,313 shares of the company’s stock valued at $86,578,000 after buying an additional 1,898,633 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Fastly by 137.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 2,973,140 shares of the company’s stock worth $46,886,000 after acquiring an additional 1,721,926 shares during the period. Institutional investors own 65.65% of the company’s stock.

Fastly Company Profile

(Get Free Report

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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