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

Shares of Fastly, Inc. (NYSE:FSLY) have received an average recommendation of “Reduce” from the ten ratings firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation and nine have given a hold recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $8.25.

A number of research firms have recently commented on FSLY. Piper Sandler cut their target price on shares of Fastly from $9.00 to $6.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Oppenheimer initiated coverage on Fastly in a report on Thursday, March 20th. They set a “market perform” rating for the company. Citigroup lifted their price target on Fastly from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. Morgan Stanley reduced their price objective on Fastly from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Finally, Royal Bank of Canada lowered their target price on shares of Fastly from $10.00 to $8.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 13th.

Insiders Place Their Bets

In other news, CFO Ronald W. Kisling sold 5,342 shares of the stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $5.26, for a total transaction of $28,098.92. Following the sale, the chief financial officer now owns 665,693 shares of the company’s stock, valued at approximately $3,501,545.18. This represents a 0.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Artur Bergman sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $10.58, for a total transaction of $105,800.00. Following the sale, the chief technology officer now directly owns 3,364,136 shares in the company, valued at approximately $35,592,558.88. The trade was a 0.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 112,903 shares of company stock worth $900,727 over the last ninety days. Corporate insiders own 6.70% of the company’s stock.

Institutional Investors Weigh In On Fastly

Several large investors have recently bought and sold shares of the stock. AlphaQuest LLC increased its stake in shares of Fastly by 169.1% during the fourth quarter. AlphaQuest LLC now owns 4,710 shares of the company’s stock worth $44,000 after buying an additional 2,960 shares during the period. Jones Financial Companies Lllp raised its holdings in shares of Fastly by 128.9% in the 4th quarter. Jones Financial Companies Lllp now owns 5,720 shares of the company’s stock valued at $54,000 after purchasing an additional 3,221 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Fastly by 451.7% during the 1st quarter. GAMMA Investing LLC now owns 7,261 shares of the company’s stock worth $46,000 after purchasing an additional 5,945 shares during the last quarter. Wealthfront Advisers LLC acquired a new position in shares of Fastly during the fourth quarter worth $72,000. Finally, Canada Pension Plan Investment Board purchased a new position in Fastly in the fourth quarter valued at $82,000. Hedge funds and other institutional investors own 79.71% of the company’s stock.

Fastly Stock Up 0.7 %

Shares of FSLY opened at $5.89 on Wednesday. The firm has a market cap of $852.20 million, a P/E ratio of -5.17 and a beta of 1.43. Fastly has a 12 month low of $4.65 and a 12 month high of $13.36. The stock’s 50 day moving average is $6.25 and its two-hundred day moving average is $7.98. The company has a current ratio of 3.97, a quick ratio of 3.97 and a debt-to-equity ratio of 0.36.

Fastly (NYSE:FSLY) last announced its earnings results on Wednesday, February 12th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.22). Fastly had a negative net margin of 29.07% and a negative return on equity of 12.75%. Analysts predict that Fastly will post -0.78 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.