Fastly, Inc. (NYSE:FSLY) Given Consensus Rating of “Hold” by Analysts

Fastly, Inc. (NYSE:FSLYGet Free Report) has earned a consensus recommendation of “Hold” from the ten brokerages that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $13.1429.

Several research analysts recently commented on the stock. KeyCorp upgraded shares of Fastly from a “sector weight” rating to an “overweight” rating and set a $14.00 target price on the stock in a report on Monday, December 15th. Piper Sandler reaffirmed a “neutral” rating and issued a $14.00 price target (up from $11.00) on shares of Fastly in a research report on Thursday, February 12th. Citigroup lifted their price objective on Fastly from $10.00 to $13.00 and gave the stock a “neutral” rating in a research note on Friday, February 13th. Royal Bank Of Canada boosted their price objective on Fastly from $12.00 to $20.00 and gave the stock a “sector perform” rating in a research report on Monday, March 2nd. Finally, DA Davidson set a $13.00 target price on Fastly in a research note on Thursday, February 12th.

Read Our Latest Research Report on Fastly

Insider Transactions at Fastly

In other news, CTO Artur Bergman sold 275,234 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $20.56, for a total transaction of $5,658,811.04. Following the completion of the transaction, the chief technology officer directly owned 1,909,901 shares in the company, valued at $39,267,564.56. The trade was a 12.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles Lacey Compton III sold 73,206 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $20.94, for a total value of $1,532,933.64. Following the completion of the sale, the chief executive officer directly owned 875,831 shares of the company’s stock, valued at $18,339,901.14. This represents a 7.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 1,618,702 shares of company stock worth $30,182,155 over the last three months. 6.70% of the stock is currently owned by insiders.

Institutional Trading of Fastly

Hedge funds have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd acquired a new stake in Fastly in the 4th quarter worth $41,000. Align Financial LLC bought a new position in shares of Fastly during the 4th quarter worth about $41,000. Byrne Asset Management LLC acquired a new position in shares of Fastly during the third quarter valued at about $43,000. Quarry LP bought a new stake in shares of Fastly in the third quarter valued at about $49,000. Finally, Geneos Wealth Management Inc. bought a new stake in shares of Fastly in the first quarter valued at about $52,000. 79.71% of the stock is owned by institutional investors.

Key Fastly News

Here are the key news stories impacting Fastly this week:

Fastly Price Performance

Shares of Fastly stock opened at $25.20 on Friday. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. The firm has a fifty day simple moving average of $15.42 and a 200-day simple moving average of $11.57. The stock has a market capitalization of $3.83 billion, a price-to-earnings ratio of -26.25 and a beta of 0.88. Fastly has a 1-year low of $4.65 and a 1-year high of $27.59.

About Fastly

(Get Free Report)

Fastly, Inc operates an edge cloud platform designed to accelerate, secure and enable modern digital experiences. The company offers a suite of services including a content delivery network (CDN), edge compute, load balancing, web application firewall (WAF) and DDoS protection. Fastly’s real-time architecture allows customers to seamlessly deploy software logic at the network edge, reducing latency by bringing applications and content closer to end users.

Founded in 2011 by Artur Bergman, Fastly has evolved from a pure-play CDN provider into a comprehensive edge cloud platform.

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Analyst Recommendations for Fastly (NYSE:FSLY)

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