Shares of Fastly, Inc. (NYSE:FSLY – Get Free Report) have been assigned a consensus rating of “Hold” from the ten research firms that are covering the firm, Marketbeat reports. Ten investment analysts have rated the stock with a hold rating. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $8.28.
FSLY has been the subject of a number of recent research reports. KeyCorp raised shares of Fastly to a “sector weight” rating in a research note on Thursday, June 5th. Royal Bank Of Canada increased their target price on Fastly from $5.00 to $6.00 and gave the company a “sector perform” rating in a report on Thursday, May 8th. Morgan Stanley raised their price target on Fastly from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 8th. Oppenheimer started coverage on Fastly in a report on Thursday, March 20th. They issued a “market perform” rating for the company. Finally, Piper Sandler upped their price objective on Fastly from $6.00 to $7.00 and gave the company a “neutral” rating in a research report on Thursday, May 8th.
Get Our Latest Analysis on FSLY
Fastly Stock Performance
Fastly (NYSE:FSLY – Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. Fastly had a negative return on equity of 12.29% and a negative net margin of 27.73%. The business had revenue of $144.47 million during the quarter, compared to analysts’ expectations of $138.40 million. During the same quarter last year, the business posted ($0.05) earnings per share. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. Sell-side analysts forecast that Fastly will post -0.78 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Fastly news, CRO Scott R. Lovett sold 127,608 shares of Fastly stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $6.95, for a total value of $886,875.60. Following the transaction, the executive now owns 1,287,145 shares in the company, valued at $8,945,657.75. This trade represents a 9.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Ronald W. Kisling sold 12,000 shares of the business’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $6.32, for a total transaction of $75,840.00. Following the sale, the chief financial officer now directly owns 671,035 shares of the company’s stock, valued at $4,240,941.20. This represents a 1.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 177,283 shares of company stock valued at $1,227,657 in the last quarter. 6.70% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the company. Vident Advisory LLC grew its position in Fastly by 4.4% during the first quarter. Vident Advisory LLC now owns 34,316 shares of the company’s stock valued at $217,000 after acquiring an additional 1,438 shares during the period. Hsbc Holdings PLC lifted its stake in shares of Fastly by 6.1% in the 1st quarter. Hsbc Holdings PLC now owns 27,938 shares of the company’s stock valued at $175,000 after purchasing an additional 1,612 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Fastly by 12.4% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,852 shares of the company’s stock worth $113,000 after purchasing an additional 1,975 shares during the period. Federated Hermes Inc. grew its holdings in shares of Fastly by 0.9% during the 1st quarter. Federated Hermes Inc. now owns 211,638 shares of the company’s stock worth $1,340,000 after purchasing an additional 1,988 shares during the period. Finally, AlphaQuest LLC increased its position in Fastly by 169.1% during the 4th quarter. AlphaQuest LLC now owns 4,710 shares of the company’s stock worth $44,000 after purchasing an additional 2,960 shares in the last quarter. 79.71% of the stock is owned by hedge funds and other institutional investors.
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.
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