Fastly, Inc. (NYSE:FSLY) Receives $19.11 Consensus Target Price from Analysts

Fastly, Inc. (NYSE:FSLY) has been assigned an average recommendation of “Moderate Buy” from the seven research firms that are currently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $19.11.

Several equities research analysts recently weighed in on the company. Piper Sandler raised Fastly from a “neutral” rating to an “overweight” rating and decreased their price target for the stock from $19.00 to $16.00 in a report on Monday, April 8th. Royal Bank of Canada raised Fastly from an “underperform” rating to a “sector perform” rating and increased their price target for the stock from $12.00 to $18.00 in a report on Monday, January 8th. Bank of America reduced their target price on Fastly from $28.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, March 28th. Citigroup raised Fastly from a “sell” rating to a “neutral” rating and raised their target price for the company from $11.00 to $20.00 in a report on Monday, January 22nd. Finally, Craig Hallum downgraded Fastly from a “buy” rating to a “hold” rating and set a $20.00 target price for the company. in a report on Thursday, February 15th.

Fastly Stock Up 1.9 %

Shares of FSLY opened at $12.53 on Friday. The company’s 50-day simple moving average is $13.89 and its 200-day simple moving average is $16.42. The stock has a market capitalization of $1.68 billion, a PE ratio of -12.05 and a beta of 1.22. Fastly has a 1 year low of $11.61 and a 1 year high of $25.87. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.14 and a current ratio of 3.14.

Fastly (NYSE:FSLY) last announced its quarterly earnings results on Wednesday, February 14th. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.05. The company had revenue of $137.78 million for the quarter, compared to analyst estimates of $139.25 million. Fastly had a negative net margin of 26.30% and a negative return on equity of 16.02%. Analysts forecast that Fastly will post -1.07 earnings per share for the current fiscal year.

Insider Buying and Selling at Fastly

In other Fastly news, CEO Todd Nightingale sold 50,708 shares of Fastly stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $16.09, for a total value of $815,891.72. Following the completion of the sale, the chief executive officer now owns 1,371,348 shares in the company, valued at approximately $22,064,989.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Fastly news, Director Richard Devon Daniels sold 7,766 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $12.66, for a total value of $98,317.56. Following the transaction, the director now directly owns 34,328 shares of the company’s stock, valued at approximately $434,592.48. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Todd Nightingale sold 50,708 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $16.09, for a total value of $815,891.72. Following the completion of the transaction, the chief executive officer now directly owns 1,371,348 shares in the company, valued at $22,064,989.32. The disclosure for this sale can be found here. Insiders sold 221,076 shares of company stock worth $3,620,434 in the last 90 days. 7.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Fastly

Institutional investors have recently made changes to their positions in the business. Qube Research & Technologies Ltd raised its position in shares of Fastly by 77.7% in the 3rd quarter. Qube Research & Technologies Ltd now owns 777,384 shares of the company’s stock valued at $14,902,000 after purchasing an additional 339,820 shares in the last quarter. Essex Investment Management Co. LLC bought a new stake in shares of Fastly in the 3rd quarter valued at approximately $1,942,000. Vanguard Group Inc. increased its holdings in shares of Fastly by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 12,732,114 shares of the company’s stock valued at $244,075,000 after acquiring an additional 381,845 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Fastly in the 3rd quarter valued at approximately $477,000. Finally, Moody Aldrich Partners LLC bought a new position in Fastly during the 4th quarter worth $2,155,000. 79.71% of the stock is owned by institutional investors and hedge funds.

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.