Fastly, Inc. (NYSE:FSLY) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Fastly, Inc. (NYSE:FSLY) have earned a consensus recommendation of “Moderate Buy” from the seven analysts that are presently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $19.11.

A number of analysts have recently commented on FSLY shares. Bank of America lowered their price target on Fastly from $28.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, March 28th. Craig Hallum cut shares of Fastly from a “buy” rating to a “hold” rating and set a $20.00 price target for the company. in a research note on Thursday, February 15th. Royal Bank of Canada raised shares of Fastly from an “underperform” rating to a “sector perform” rating and raised their price target for the stock from $12.00 to $18.00 in a research note on Monday, January 8th. Citigroup raised shares of Fastly from a “sell” rating to a “neutral” rating and raised their price target for the stock from $11.00 to $20.00 in a research note on Monday, January 22nd. Finally, Piper Sandler raised shares of 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 research note on Monday, April 8th.

Fastly Stock Performance

Fastly stock opened at $12.30 on Friday. The company has a current ratio of 3.14, a quick ratio of 3.14 and a debt-to-equity ratio of 0.35. Fastly has a 1 year low of $11.61 and a 1 year high of $25.87. The company has a market cap of $1.65 billion, a PE ratio of -11.83 and a beta of 1.22. The company’s 50-day moving average is $14.13 and its two-hundred day moving average is $16.47.

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

Insider Buying and Selling at Fastly

In other Fastly news, insider Artur Bergman sold 21,875 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $21.03, for a total transaction of $460,031.25. Following the transaction, the insider now owns 6,079,994 shares in the company, valued at approximately $127,862,273.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Fastly news, insider Artur Bergman sold 21,875 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $21.03, for a total transaction of $460,031.25. Following the transaction, the insider now owns 6,079,994 shares in the company, valued at approximately $127,862,273.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Ronald W. Kisling sold 12,235 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $16.09, for a total value of $196,861.15. Following the transaction, the chief financial officer now owns 450,449 shares in the company, valued at approximately $7,247,724.41. The disclosure for this sale can be found here. Insiders sold 295,451 shares of company stock valued at $5,126,527 in the last quarter. 7.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of FSLY. Allspring Global Investments Holdings LLC boosted its stake in shares of Fastly by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 10,242 shares of the company’s stock valued at $133,000 after purchasing an additional 863 shares in the last quarter. 180 Wealth Advisors LLC acquired a new stake in shares of Fastly during the first quarter valued at about $141,000. Strategic Planning Group LLC lifted its stake in shares of Fastly by 22.0% in the first quarter. Strategic Planning Group LLC now owns 68,336 shares of the company’s stock worth $886,000 after acquiring an additional 12,303 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Fastly by 499.1% in the first quarter. International Assets Investment Management LLC now owns 20,578 shares of the company’s stock worth $269,000 after acquiring an additional 17,143 shares during the period. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in shares of Fastly in the fourth quarter worth approximately $409,000. Institutional investors own 79.71% of the company’s stock.

About Fastly

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.